Premier Energies is showing a potential bullish Head and Shoulders reversal structure near the ₹840–₹850 support zone.
Bullish Confluence:
61.8% Fibonacci Retracement: Golden-ratio support near ₹845.
Previous Resistance: The ₹840–₹850 zone may now act as support.
Price Structure: Potential inverse Head and Shoulders formation suggests a possible trend reversal.
Confirmation Trigger: A decisive breakout above the neckline would strengthen the bullish case, with ₹920–₹955 as potential resistance zones.
Risk: A sustained breakdown below ₹840 may invalidate the setup.
Educational analysis only. Not a trading recommendation.
Bullish Confluence:
61.8% Fibonacci Retracement: Golden-ratio support near ₹845.
Previous Resistance: The ₹840–₹850 zone may now act as support.
Price Structure: Potential inverse Head and Shoulders formation suggests a possible trend reversal.
Confirmation Trigger: A decisive breakout above the neckline would strengthen the bullish case, with ₹920–₹955 as potential resistance zones.
Risk: A sustained breakdown below ₹840 may invalidate the setup.
Educational analysis only. Not a trading recommendation.
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.