vanathi
Long

IPCALAB - Rounding bottom or Cup&Handle ?

NSE:IPCALAB   IPCA LABORATORIES
93 0 10
IPCALAB             is nearing the resistance level 640 - 650. If it breaks the resistance with volume , the price may gain another 60 to 80 points in 6 months to one year. In that case this pattern is rounding bottom. If the price retraces and then breaks the resistance, the pattern will be cup and handle . Both cup&handle, rounding bottom are trend continuation patterns. Both the patterns shows the stock is bullish . Keep it in watch list. When the price nears the resistance the movement will be in sideways before it tries to move further.
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