Thursday, January 14, 2010

Petronet: Major Head and Shoulders

Major Inverted Head and Shoulder takes place, today's candle action. The stock has now reached 82. Like my friend Mayur says, this one has ran up up like a "Fox Terrier" from Rs. 60 to Rs. 82. This looks a very text book Inv HnS, the with target of Rs. 50 plus from 80 to reach a target of Rs. 130.
The SL can be Rs. 70.

This pattern is big, but donot know abt its success. It needs to be watched whether this wull work of be a Failure pattern. In case of failure, then it will major disaster for stock. 

No comments: