About meCA by profession and a L3 CFA candidate, working as a fundamental equity research associate at a family office that serves HNIs. New to trading, want to create an objective and solid system and follow a strict discipline in taking trades.
A head and shoulder pattern seems to be in formation.
The neckline based on the left recession and head recession at 756.9 & 763.05 is slightly upwards trending (would have preferred this to be downwards for a stronger bearish sentiment).
The region of 763.2 to 785.8 seems to be a relevant area, where the stock has spent a considerable time since 28th June 2023....
Ansys seems to be forming a head and shoulders top.
Left shoulder - 31st March 2023
Head - 18-19th July 2023
Right Shoulder - 6th Sept 2023
Volume details for the key areas (in '000)
i) Left shoulder
15th Feb to 31st March 2023 622.89
7 days leading upto 31st March 2023 550.04
ii) Head
4th May to 19th July 2023 457.50
7 days...