INFY - CUP N HANDLE (Bullish Breakout)

It is been observed on the hourly chart that the price action is firstly forming a U shape Cup consolidation followed by a downward correction channel, Handle and now breaking above that zone which is indicating a bullish move ahead.

T1- 940
SL- 900
Trade active
Trade active
Comment: Pattern Gap is been filled by the price action between 896-900

If it goes below it then it is a pattern failure.
Trade closed: stop reached
Comment: INFY recovering from the gap zone
Comment: Infosys price action still respecting and consolidating within the drawn channel, a breakout from here on shall further decide the movement.

I am surprisingly noting that you have called many stock as brake out but failed to hold the levels and they are going opposite direction , Why all your information is going in opposite direction let me tell you since i can understand some time people will also take wrong decision and could not understand why its happening
1st Point is any brake out should be above the ADM % , ( Average Daily Moment price range) and it should support the Weekly trend direction in order to consider the Further bullish Trend ahead ,
2nd When you are wrong on long you need to exit and enter back , No need to extend the losses or revise the stop , stock does not move with out your notice , it will be in your watch list when it starts moving your way you can always get on it
In this chart and in another chart i noticed the price movement is not even more than 1 % , especially in this stock , you have called it as brake out ? its opened 916 and closed 922.90 its not even 1 % of the script Market value its less than that , so if possible please compare the script market value and minimum it should be more than 2.5 % in order to call it as Brake out , Hope you will understand and if you still have Questions , Please free feel to ask me i will guide you step by step , Regards
+1 Reply
@shiv2798, Thank you so such for your support and feedback, I shall surely connect with you for further understanding. Regards
As per my understanding, Cup takes about 8-10 weeks and Handle 2-4 weeks then only. Handle is not proper.
+1 Reply
NeeteshJain TOP davesantosh13
@davesantosh13, Sir, time frame matters a lot in analyzing any pattern. All pattern works with respect to time frame of the chart as pattern just show the way of action between buyers and sellers. The above chart display hourly chart pattern, where I could see a cup shape reversal and a pullback of a handle shape of the previously marked cup or reversal. Thanks
rupambose32 rupambose32
@rupambose32, my idea
NeeteshJain TOP rupambose32
@rupambose32, That looks good too, a breakout from here on shall further decide the movement in the stock. Thanks for sharing. Regards
was eagerly waiting for your view on INFY already have position your update made me positive now
+1 Reply
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