NandanChaturvediTrade

Cup and handle pattern in GUJRAFFIA - Multi year breakout.

Long
NSE:GUJRAFFIA   GUJARAT RAFFIA IND
A cup and handle pattern is clearly visible on the daily charts while on the weekly charts, stock has broken a long-term resistance around Rs 76.
I would consider this pattern to be bullish and targets of around 110 can be seen in a few weeks. We can expect a minor consolidation before a breakout and those can be very good levels to enter the trade.

Kindly note, this is not a recommendation and only an analysis. Only for educational purpose.
Trade closed: stop reached: Stop loss hit

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