ZENSARTECH Inverted H&S Breakout and Retest Complete

15. Juni 2021

1. Made an All Time High in 2018, stock fell from there
2. Formed an Inverted Head and Shoulder (IHNS) pattern over a period of 2 years on a Weekly chart
3. Breakout from pattern with high volumes
4. Pattern's Neckline at 257 has been retested over a couple of weeks with decreased volumes
5. Stock rising again after restesting breakout level
6. Huge delivery of stocks with respect to traded quantity - 77% according to NSE website meaning long term prospects by institutions

Buy : 300 - 310
Strict SL : 275
Wide SL : 255 (Below IHNS Neckline)
Immediate Target: 350 (All Time High)
Final Target: 440 (Equal to the depth of INHS Pattern)

Time Period: Mid Term to Long Term

5. Juli 2021

Trade ist aktiv

Immediate target (Short Term) almost reached. One might book profits in half or full as per their risk reward at 348-350.
Or may continue trailing stop loss to lock in the profits.
IT stocks moving up, so one may expect higher levels for mid term.