VigneshIyer

Potential cup and subsequent handle pattern

Long
NSE:HDFC   HOUSING DEVEL FIN
The classic case of C&H for me (in formation stage). AS of now its 14 weeks since the possible pattern has started to form and could take another 8-12 weeks for the rest of the pattern to form. The upper side of cup should be around 2800-2820 levels. the pattern renders invalid below 2380-2400 levels.
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The idea behind this post is to find the pattern before the formation with right textbook rules applied to identify it. This is one such case for me and worth riding in.
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Disclaimer: I am not a SEBI registered analyst and this is not in nature of tip. This is pure understanding of the candlestick pattern and development of the same.
Trade active: Should see some pullback tomorrow to reverse the trend. Its still the textbook C&H
Trade closed manually: Pattern failed

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