India, April 14 -- The inverted head-and-shoulders pattern indicates fading selling pressure alongside a rise in buying interest. The inverted head-and-shoulders pattern features three troughs, where the middle trough forms the lowest point (the head) and the two outer troughs create higher lows (the shoulders). A breakout above the neckline signals a potential bullish reversal.

On Monday, HDFC Life Insurance Company Ltd broke above the neckline of an inverted head-and-shoulders pattern on the 30-minute chart. A sustained move above Rs 606 could pave the way for further upside, while a drop below this level may weaken the bullish outlook.

In an inverted head-and-shoulders pattern, targets are usually set at the nearest resistance level ...