Inverse Head and Shoulders is a Bullish Reversal Pattern that is used in Technical analysis to see for signals of trend shift, from a downtrend to an Uptrend. This pattern is the Opposite of the Head and Shoulders pattern.
How to Trade the Pattern:
- Breakout Entry: Once the price breaks above the neckline, traders look for a buying opportunity.
- Target Price: The expected upward move is approximately equal to the distance from the head to the neckline.
- Stop-Loss: Placed below the right shoulder to limit downside risk.
Here is the list of stocks that have formed Inverse Head and shoulders on 1 Day time frame:
1. PG Electroplast
PG Electroplast Limited is a leading Indian company specializing in electronic manufacturing services (EMS) and plastic molding solutions. It provides end-to-end manufacturing solutions, including plastic injection molding, sheet metal fabrication, and assembly services. With a market capitalization of Rs. 25,195 crores, the stock is trading at Rs. 880. It has fallen 16.50 percent from its 52-week high of Rs. 1,054.
2. ITC
ITC Limited is a diversified Indian conglomerate with a strong presence across multiple industries, including fast-moving consumer goods (FMCG), hospitality, paperboards and packaging, agri-business, and information technology. With a market capitalization of Rs. 5,08,296 crores, the stock is trading at Rs. 406. It has fallen 23.10 percent from its 52-week high of Rs. 528.
3. Himatsingka Seide
Himatsingka Seide Limited is a leading Indian textile company specializing in the manufacturing, retailing, and distribution of home textile products. With expertise in silk and cotton-based fabrics, the company is known for its vertically integrated operations, covering everything from spinning and weaving to finishing and branding. With a market capitalization of Rs. 1,662 crores, the stock is trading at Rs. 132. It has fallen 42.85 percent from its 52-week high of Rs. 231.
Written By Abhishek Das
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