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Trading MCDOWELL-N using Technical Analysis

United Spirits – The hourly charts have been developing a continuation head and shoulder pattern. The momentum is decreasing. In the last session the prices were unable to move up despite a good beginning. A move below 3205 (neckline) will confirm the pattern.

The pattern fails above 3306. In case of failure of the pattern the stock is expected to reach 3480 levels.

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