KOTAK BANK Head & Shoulder Pattern

Head & Shoulder Pattern is a trend reversal pattern and is seen on uptrend, indicating the end of the uptrend is near. A neck line (support line) need to breach along with fallow up selling volume confirms the strength of the trend. In KOTAKBANK currently such a formation is seen on weekly chart. Still the support line is not breached and stock is trying to reverse from bottom. Need to keep a close watch as once this support line get breached along with decent volume a trend reversal can be confirmed. Traders need to wait for weekly closing below the support line, some traders wait for one more weekly candle to be closing under the support line as an additional confirmation. If stock reverse above right shoulder the pattern will get invalid or in another words stop loss will get trigger. Keep watch Keep Learning