Cup & Handle breakout signal in ICICI Bank
Today's candle marks the break out of the Cup & Handle pattern in ICICI Bank's daily time frame chart.
We may see a couple of days of profit booking due to the following reasons:
1. F&O Scrip
2. Near lifetime High
3. Has been closing in green for 8 consecutive days
But, don't fret. Good days are only going to be ahead. I will suggest accumulating on every dip with an SL of 837.6 from the medium to long-term view. From a short-term perspective, one can have an SL of current swing low i.e. 891.25. Both are on a closing basis.
We may see a couple of days of profit booking due to the following reasons:
1. F&O Scrip
2. Near lifetime High
3. Has been closing in green for 8 consecutive days
But, don't fret. Good days are only going to be ahead. I will suggest accumulating on every dip with an SL of 837.6 from the medium to long-term view. From a short-term perspective, one can have an SL of current swing low i.e. 891.25. Both are on a closing basis.
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