Ashapura Minechem appears to be breaking out of a multi-month Cup & Handle formation, backed by a noticeable surge in volume. After spending several weeks consolidating within the handle, the price has finally pushed above the neckline, suggesting that buyers may be preparing for the next leg higher.
The overall structure has improved further with the 50 EMA moving above the 100 EMA, a signal that often supports trend continuation. More importantly, the handle developed above both moving averages, showing that dips continued to attract buying interest rather than aggressive selling.
As long as the stock holds above the 680–690 breakout area, the bullish setup remains valid. If momentum continues to build, the next upside levels to watch are 800, 900, and 1,000 region over the medium term.
We will update further information soon.
By BrightRally_Research
The overall structure has improved further with the 50 EMA moving above the 100 EMA, a signal that often supports trend continuation. More importantly, the handle developed above both moving averages, showing that dips continued to attract buying interest rather than aggressive selling.
As long as the stock holds above the 680–690 breakout area, the bullish setup remains valid. If momentum continues to build, the next upside levels to watch are 800, 900, and 1,000 region over the medium term.
We will update further information soon.
By BrightRally_Research
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.