Jai Corp Ltd | Potential Inverse Head & Shoulders Breakout
Jai Corp appears to be forming a classic Inverse Head & Shoulders pattern on the daily timeframe after an extended correction phase. Price is currently testing the neckline resistance near ₹123.72.
A decisive daily close above the neckline with strong volume could confirm the bullish reversal pattern and open the path toward ₹139, ₹147 and ₹157 levels. The measured move projection of the pattern suggests potential for even higher targets near ₹172 if momentum sustains.
RSI has turned positive and is trading above its signal line, supporting the bullish setup. However, traders should watch for volume expansion at the breakout point for stronger confirmation.
Levels to Watch:
* Breakout: ₹123.72
* Targets: ₹139.29 → ₹147.32 → ₹157.17 → ₹172.40
* Support: ₹118 / ₹110
* Invalidation: Below ₹100
Disclaimer: This analysis is for educational purposes only and should not be considered investment advice. Please conduct your own research and use appropriate risk management before taking any trade.
Jai Corp appears to be forming a classic Inverse Head & Shoulders pattern on the daily timeframe after an extended correction phase. Price is currently testing the neckline resistance near ₹123.72.
A decisive daily close above the neckline with strong volume could confirm the bullish reversal pattern and open the path toward ₹139, ₹147 and ₹157 levels. The measured move projection of the pattern suggests potential for even higher targets near ₹172 if momentum sustains.
RSI has turned positive and is trading above its signal line, supporting the bullish setup. However, traders should watch for volume expansion at the breakout point for stronger confirmation.
Levels to Watch:
* Breakout: ₹123.72
* Targets: ₹139.29 → ₹147.32 → ₹157.17 → ₹172.40
* Support: ₹118 / ₹110
* Invalidation: Below ₹100
Disclaimer: This analysis is for educational purposes only and should not be considered investment advice. Please conduct your own research and use appropriate risk management before taking any trade.
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.
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.