Shivalik Bimetal cmp 517. Stock price is poised at a neckline of a potentially bearish head and shoulders pattern in the daily charts. It is also taking support at 200 dema. It is also close to previous peak level of 507. And within consolidation range of 480-520 which also happens to be the right shoulder.
Now comes twist in the tale. 
Previously also similar situation happened in Jan 2023 when stock price broke down below neckline of a bearish head and shoulders pattern which was formed back than… Stock price took support at around 360-370 which then was the 200 dema. And then it reversed to quickly race to around 750 within quick time.
Will history repeat itself ? FAILED BEARISH PATTERN LEADING TO A STRONG RALLY? Lets see. Or will the pattern play out and can we see a fall? Very interesting situation.
I don’t have position on the stock, and just watching for academic purposes.
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