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Big Story | Understanding bearish and bullish reversal chart patterns
Yoganand D
BL Research Bureau |
Updated on
January 16, 2021
On the weekly chart of stock of BSE, the inverse head and shoulders pattern is evident between August 2019 and December 2020 with the neckline at around ₹570
The conclusive breakthrough of the resistance at ₹60 with extra ordinary volume in late November completed the double bottom pattern for Equitas Holdings
Maruti Suzuki formed a double top pattern with a neckline or support level at ₹8,250, and breached it downwards in September 2018
On the weekly chart of the Nifty 50, the rising wedge pattern is evident between August 2019 and January 2020