Cup and Handle in SBICARD

Notes:

• Cup and Handle formation started on 2nd March.
  
• The latest candle (formed on 9/6/2021) showed a strong breakout from a channel consolidation in the handle part. It also broke and closed above the top end of the cup.
  
• Could expect a retest/consolidation of the top of the cup before resuming any upward move (since the breakout was not supported by a strong volume). Hence, Possible accumulation zone near the present levels.
  
• Topside target in such a pattern is taken as the depth of the cup. In this case, around 240 points or 20%.
  

Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.

تعليق:

Not looking so great so far.

تم حذف الأمر:

Falling out of pattern (Even though the volume is very less).

تعليق:

Looks like a channel consolidation between 955 and 985.