PREMIER EXPLOSIVES LTD (PREMEXPLN) daily chart.
**cup and handle** pattern, suggesting potential bullish continuation.
Here's a simple breakdown:
* **Cup:** The rounded bottom formation appears to have taken place between roughly early January and late April 2025. This indicates a period of consolidation after a decline.
* **Handle (Potential):** After reaching a high around ₹480, the price has pulled back and is now showing signs of consolidating again in a smaller range (the potential handle) in early May 2025.
* **Breakout Level:** The horizontal line you've drawn around ₹480 acts as the potential neckline or resistance. A decisive break above this level would provide further confirmation of the pattern.
* **Target:** You've marked a potential target around ₹652.50. This target is typically estimated by measuring the depth of the cup and adding it to the breakout level.
**Things to watch out for:**
* **Handle Formation:** Observe if the current consolidation indeed forms a handle—a smaller, ideally slightly downward-sloping or sideways movement.
* **Breakout :** We need to see if it retests 480 and bounce it is a strong buy.
* **Volume on Breakout:** Increased volume on the breakout it is strength to the bullish signal.
**cup and handle** pattern, suggesting potential bullish continuation.
Here's a simple breakdown:
* **Cup:** The rounded bottom formation appears to have taken place between roughly early January and late April 2025. This indicates a period of consolidation after a decline.
* **Handle (Potential):** After reaching a high around ₹480, the price has pulled back and is now showing signs of consolidating again in a smaller range (the potential handle) in early May 2025.
* **Breakout Level:** The horizontal line you've drawn around ₹480 acts as the potential neckline or resistance. A decisive break above this level would provide further confirmation of the pattern.
* **Target:** You've marked a potential target around ₹652.50. This target is typically estimated by measuring the depth of the cup and adding it to the breakout level.
**Things to watch out for:**
* **Handle Formation:** Observe if the current consolidation indeed forms a handle—a smaller, ideally slightly downward-sloping or sideways movement.
* **Breakout :** We need to see if it retests 480 and bounce it is a strong buy.
* **Volume on Breakout:** Increased volume on the breakout it is strength to the bullish signal.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.