CUP & HANDLE PATTERN FORMED IN GAIL

٦ نوفمبر ٢٠٢٣

TECHNICAL ANALYSIS :

1. CUP AND HANDLE PATTERN -
   
   A nice cup & handle pattern had finished forming on 26th jun after which market broke out of it & started going bullish for the next 2-3 months
   
   
2. 100D SMA REVERSAL -
   
   Market had taken a support from 100D SMA twice indicating strong bullish momentum
   
   
3. STRONG SUPPORT-RESISTANCE LEVEL -
   
   Apart from that market had taken support from a strong support-resistance level again indicating strong upward pressure
   
   
4. PROFIT -
   
   Market had finally reached the profit target of 132 which is equal to the height of the cup & then rebounded