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shadowthenoobtrader

Cup and handle Pattern breakout in DEEPAKNTR

Long
DEEPAK NITRITE (NSE:DEEPAKNTR)  
shadowthenoobtrader  
NSE:DEEPAKNTR   DEEPAK NITRITE
Trend Analysis Chart Patterns Fundamental Analysis cupandhandlepattern cupandhandlebreakout deepaknitrite DEEPAKNTR LONG
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trendanalysis chartpattern fundamental cupandhandlepattern cupandhandlebreakout deepaknitrite deepakntr long
The cup and handle pattern is one the most reliable pattern if it shows these signs in its formation:
  • Big volume buying on the reversal from lows which shows that institutions are buying.
  • Volume dry up on pullback shows in handle shows that the supply is being consumed by institutions showing no selling pressure.
  • 2x or 3x the average volume on pivot breakout.
  • Big price candle on breakout

Entry - 2185
Stoploss - 1930
Target - 2500/2600


I hope this analysis helps you take better decisions on the stock.


Thank you
Saurabh Yadav

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