IPCA Lab - Observing Buy Setup
CMP 1361 on 09.08.24
The above weekly chart shows that the price has formed a cup & handle pattern in the last 2 years. If this pattern continues we can expect a breakout on the charts.
MACD is showing a likely crossover too.
Possible targets may be 1600/1800 or even more.
As long as it sustains above 1300, this setup remains relevant.
Decide your exit levels according to your position sizing and risk-management.
This illustration is only for learning and sharing purposes, not a piece of trading advice in any form.
All the best.
The above weekly chart shows that the price has formed a cup & handle pattern in the last 2 years. If this pattern continues we can expect a breakout on the charts.
MACD is showing a likely crossover too.
Possible targets may be 1600/1800 or even more.
As long as it sustains above 1300, this setup remains relevant.
Decide your exit levels according to your position sizing and risk-management.
This illustration is only for learning and sharing purposes, not a piece of trading advice in any form.
All the best.
Comment
Trading near the breakout levels of 1380-90. Today, 13.08.24 may be a crucial day for further direction, as quarterly results are expected today.
We should act wisely and patiently in these conditions. We should keep our stop loss strict or exercise hedging if possible.
All the best.
Comment
Near the support levels of 1310. It touched 1315. Let's see ahead.Comment
CMP 1410 on 21.08.24 morning. Near breakout levels. Keep tracking.Comment
Reached 1450 in recent sessions. Stay tuned.Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.