Indian Bank (INDIANB) is exhibiting a cup and handle formation on the weekly chart. Watch out for a breakout from this zone, it can be a good Long trade.
Hii buddy, is the cup and handle still valid or new pattern in the making?? Pls reply ty
vipulmehta817
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@BikashAgarwal, Hello, the cup and handle is still valid. However the stock hasn't broken out yet, two weeks into the pattern formation. If it doesn't make the expected up move in the coming two weeks, we will have to exit the trade based on the time stop.
BikashAgarwal
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@vipulmehta817, oky, and 1 more thing, wat cud be the immideate targets if it breaks out... I can see 1st 170, then straight 200... Is it correct?? Ty
vipulmehta817
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@BikashAgarwal, 195-200 would be the target if it breaks out successfully.