PVR Ltd which was forming a
Inverted Head & Shoulder pattern suddenly noticed a jump in volumes as indicated in the chart.
This also confirms the breach of price at
175 which was crucial to the Head and Shoulder pattern.
If the script sustains more buying and remains above 176 today, the H&S pattern is likely to be confirmed.
The target price on the upside would be
184, with a stop loss of
165 - 167.
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