We can clearly see cup and handle pattern formed in DABUR. also it breakout today. & looking bullish for positional target.
CMP : 589.75
Positive points:
Target : Around 648
In technical term, the cup & handle pattern can give the target equal to the height of the Cup. I have marked a vertical segment showing the height of the cup. and same we can get the target after breakout.
Duration:
Short to mid term
Disclaimer: I am not sebi registered. This is for educational purpose only. Do your own analysis before taking any position. I am not responsible for any profit or loss.
CMP : 589.75
Positive points:
- Breakout:
Cup & handle pattern is well known for a positive side breakout.
Today it Breakout & closed above the resistance line.
- Volume:
Breakout volume is greater than the moving average of volume of 20 days. Actually its almost twice.
- MACD:
MACD crossover above zero line & histogram is also showing some strength.
- RSI:
RSI is above 60 showing bullish signal
Target : Around 648
In technical term, the cup & handle pattern can give the target equal to the height of the Cup. I have marked a vertical segment showing the height of the cup. and same we can get the target after breakout.
Duration:
Short to mid term
Disclaimer: I am not sebi registered. This is for educational purpose only. Do your own analysis before taking any position. I am not responsible for any profit or loss.
Trade closed: target reached