Cochin Shipyard Limited (COCHINSHIP) Bullish Bet
The chart presented indicates the formation of an Inverse Head and Shoulders pattern, which is considered a bullish reversal pattern.
Left Shoulder: Formed around early August 2025.
Head: Formed during mid-August 2025 at a lower price level.
Right Shoulder: Formed towards late August 2025.
Neckline: Around the ₹1,750–1,765 range.
This suggests a potential trend reversal from bearish to bullish.
Current Price (CMP): ~₹1,745.70
Neckline Resistance: ~₹1,765
Breakout Target (based on pattern projection): ₹1844 / 1918 / 1992 / 2097+++
Support Levels:
Immediate Support: ₹1,700
Strong Support: ₹1,650
1. Trendline Break: The long-term downward trendline appears to be broken, indicating reduced selling pressure.
2. Volume Confirmation (not visible in chart): Ideally, a breakout above neckline with strong volumes will confirm the bullish reversal.
3. Potential Upside: If price sustains above neckline (~₹1,765), the stock may aim for ₹2,000–2,220 in the short to medium term.
The chart presented indicates the formation of an Inverse Head and Shoulders pattern, which is considered a bullish reversal pattern.
Left Shoulder: Formed around early August 2025.
Head: Formed during mid-August 2025 at a lower price level.
Right Shoulder: Formed towards late August 2025.
Neckline: Around the ₹1,750–1,765 range.
This suggests a potential trend reversal from bearish to bullish.
Current Price (CMP): ~₹1,745.70
Neckline Resistance: ~₹1,765
Breakout Target (based on pattern projection): ₹1844 / 1918 / 1992 / 2097+++
Support Levels:
Immediate Support: ₹1,700
Strong Support: ₹1,650
1. Trendline Break: The long-term downward trendline appears to be broken, indicating reduced selling pressure.
2. Volume Confirmation (not visible in chart): Ideally, a breakout above neckline with strong volumes will confirm the bullish reversal.
3. Potential Upside: If price sustains above neckline (~₹1,765), the stock may aim for ₹2,000–2,220 in the short to medium term.
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High Made 1940
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.