Cantabil Retail India has formed cup and handle formation in monthly chart. It is a bullish continuation pattern. Break out from the handle's range will make the price to continue its uptrend. And the handle should break with significant volume to show the strength of the bullish movement. If the price action breaks above 92 with high volume, one can enter for the targets of 110 and 130. Duration is 6 months to one year. Consult your financial manager before investing.
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Trade closed: target reached
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Comments
RajKA
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Hi Madam, Entered @97. should I keep any SL or just hold? please guide me.
vanathi
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@RajKA, Price action is trying to fill the gap. I expect it will reach 86 - 89 zone, then go up.
Today's volume is 20 times of 5 day average. I think, the price action you suggested might took place now. and the bullish trend started. Am i correct Vanati ji?