The stock was accumulated more in the handle formation than the cup formation (kind of defies the 'handle formation on low volume' rule). But at the same time, the other interpretation would be, the stock fell in a channel formation with occasional buying on high volumes, and finally gave a decisive volume breakout from the channel. I'm inclined to believe the stock will show much higher upside from here.
Keep SL below the weekly breakout candle.
I reserve the right to be wrong.
Disclaimer: I'm not a SEBI registered analyst. Please consult your financial advisor before investing.
@drchalkar No problem, I’d like to hear about more stocks from you.
drdc11
⋅
@raavigeorgian, another one.. Gokaldas exports, had impressive rally then consolidation n volumes are promising.. Please check if u can
raavigeorgian
⋅
@drchalkar, Sure, will post a chart once I get time.
raavigeorgian
⋅
@drchalkar, Brilliant chart, can't post the chart due to lack of time. 128-140 is good zone to accumulate. The stock shot up and broke out of 5yr resistance on very good volumes, and now it is testing the breakout area on low volume. Very promising.