BSE limited has given a beautiful cup and handle pattern breakout.
Retraced to 0.618 levels after last strong up move. Since then it has respected multiple levels of Fibonacci while trying to move upward and making a cup and handle pattern.
Has closed above last fibo levels after breaking out the pattern.
Fibonacci level 1 can be the first target and if sustains above that then positional target can be the fibo extension till 1.618 level.
Levels mentioned in chart. Follow strict risk management.
Retraced to 0.618 levels after last strong up move. Since then it has respected multiple levels of Fibonacci while trying to move upward and making a cup and handle pattern.
Has closed above last fibo levels after breaking out the pattern.
Fibonacci level 1 can be the first target and if sustains above that then positional target can be the fibo extension till 1.618 level.
Levels mentioned in chart. Follow strict risk management.
Comment:
Reached the positional target of 1.618 fibo extension.
Trade closed: target reached