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runalnamole7

cup and handle breakout

Long
BAJAJ CONSUMER (NSE:BAJAJCON)  
runalnamole7 Updated   
NSE:BAJAJCON   BAJAJ CONSUMER
Chart Patterns Technical Indicators Trend Analysis trading chartpatternanalysis chartpatternstrading cupandhandlepattern cupandhandlebreakout swingtrading Bullish Patterns bullishpattern
3
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chartpattern indicator trendanalysis trading chartpatternanalysis chartpatternstrading cupandhandlepattern cupandhandlebreakout swingtrading bullish bullishpattern
Bajaj consumer on weekly timeframe has formed cup and handle pattern and given breakout with good volume. The short term and mid term momentum is also bullish with recent crossover.
the target is of 1:3 which indicates it could be a fair trade.
Comment:
DISCLAIMER: I am not a SEBI registered technical analyst. I do not provide calls and signals. The above analysis is solely for educational purpose. Iam not responsible for any loss/profit. DO NOT TRADE!
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Comment:
watching current price action, I think we should shift our stop loss to 190 price point as the point of resistance could also work as a new resistance of handle formation of cup and could touch the support line of handle which is below our current sl price. Also if we observe carefully it is also forming a flag pattern let's keep a watch how it reacts to flag and pole. if it breaks and only if it closes below the support line we should close the trade
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