Classic cup & handle formation on daily time frame , with a breakout above the neckline of 579. One should buy the stock on cmp i.e. 585 & add on dips . Maintaining a SL of 562 target for the region of 612 as a first tgt & 640 for the second tgt.
@miracleamay, measure the length from bottom of the cup to the neckline & project the same length above the neckline , you will get the final target of the pattern.
VolumePriceActionTrader
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What about the RSI divergence in the daily time frame? How much retracement can we expect to cover up that divergence? Up to 21 EMA? Please advise
TradingSutra
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@Nifty50PerfectPredictions, 560 is the key level to watch, nothing else
ALakshmiPrasad
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It will come crashing down the next few days, not a break out.
TradingSutra
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@ALakshmiPrasad, okay, then stop loss is there to protect ! no worries .
nageshkaudgaonkar
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@ALakshmiPrasad yes bro..its fall time..trading in Upward channel..
mercifulOrange94296
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Sir the close did breakout with high volume, but the delivery volume % is not high.....will it affect the price movement going forward
TradingSutra
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@mercifulOrange94296, focus on price , as long as 560 is maintained ,stock will definitely move up
mercifulOrange94296
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@TradingSutra, Sir, what is the accuracy rate of these cup and handle breakouts?