Shipping Corp of India Ltd (SCI) - Weekly Head & Shoulders Watch

🚨 Potential Head and Shoulders Pattern forming on the weekly chart, signaling a possible bearish reversal if the neckline breaks.

📊 Key Levels to Watch:

• Neckline Support: ₹203.32 - A weekly close below this level would confirm the pattern, potentially leading to a further decline.
  
• Right Shoulder Resistance: ₹235 - ₹270 - If the price fails to break above this zone, the bearish structure stays intact.
  

🎯 Target (upon breakdown): ₹177.72 - Calculated from the height of the head to the neckline.

📈 Alternative Bullish Scenario: If SCI breaks above ₹270.60, the Head and Shoulders pattern could be invalidated, potentially signaling bullish momentum towards previous highs.

📉 Indicators:

• RSI shows a slight uptick, but a downward trend could confirm the bearish setup.
  
• Watch for a volume spike if the price breaks the neckline, as it would strengthen the bearish case.
  

Disclaimer: This is not financial advice. Keep an eye on these levels and manage your risk accordingly!