TATA Steel reversal

There is inverted head and shoulder pattern identified in TATA Steel.
With this pattern target of 570 can be projected.


rkkarnani said...

What about the Volumes aspect in this pattern...does that confirm for a Inverted head and shoulder? I am no Ta but just know the basics. Remember there is some thing about Volumes to be looked into in a H&S pattern. Hence the query.

MurAtt said...

Hi Yagnesh and RK (Tis surely a small world :D)

Whereall one reaches, one finds it own kind !!!!!

So how did u get here RK, been with Yagnesh since ages .. almost since my 'Inception' into TA.

btw if u see the last candle, the vols are above average ... for the breakout candle ie.


Bharani said...


Thanks for the chart. Couple of things i notice missing in the chart.

1) right (current) shoulder should be shorter than the left (older) shoulder for HNS/inv HNS
2) Breakout should be supported by volumes.

yagnesh said...

Gr8 to see old friends writing.

I have found that width of shoulders can vary a bit and it need not be as balanced as human head and shoulders :-).

I have kept the neck line a bit low to project an achievable target aggressive target of 585 will be arrived if I place the neck line 15 points above the current line.

Also last green building in the volume skyscrapers is much above avg to confirm breakout.