PPLPHARMA - Cup and handle - Wkly
PPLPHARMA
**Piramal Pharma Ltd. (PPLPHARMA)** Chart to show a **Cup and Handle** pattern, a common bullish continuation pattern. This pattern, along with volume and price targets, provides clues for potential upward movement.
### Key Elements:
1. **Cup Formation**:
- The rounded bottom (cup) suggests a period of consolidation after a downtrend. This shows that selling pressure has eased, and the stock is in accumulation.
- The price retraced by **84.36 INR (135.58%)** from its low, marking the depth of the cup.
2. **Handle Formation**:
- The chart shows a smaller, shallower pullback forming a handle near the right side of the cup. This is a sign that buyers and sellers are testing support before the potential breakout.
- The handle represents a consolidation before the next move up, and the breakout typically occurs once the stock clears the high of the handle.
3. **Measured Move Targets**:
- The height of the cup (around **105.55 INR**) is used to project price targets.
- The first target is set at **243.99 INR**, and the ultimate target is projected at **272.20 INR**, marking a **63.30%** rise from the breakout point.
4. **Volume**:
- There's an increase in volume near the breakout, which typically confirms buying interest.
- Volume is one of the most critical indicators when confirming a breakout from a Cup and Handle pattern, and this shows strength in the bullish move.
5. **Support and Resistance Levels**:
- **146.90 INR** and **167.28 INR** serve as strong support levels.
### Cup and Handle Analysis:
- **Bullish Bias**: The Cup and Handle pattern is a continuation setup. After the handle formation, a breakout above the handle's resistance line (which seems to have already occurred) could lead to a strong upward move toward the projected targets.
- **Price Targets**:
- **Immediate Target**: **243.99 INR**.
- **Extended Target**: **272.20 INR**.
- **Risk Management**: A potential stop-loss could be placed below the handle at **216.13 INR**, which represents key support after the breakout.
The stock looks bullish in the medium term, but you may want to watch for volume confirmation during the breakout and set up appropriate risk management in case of reversals. Let me know if you'd like further details!
**Piramal Pharma Ltd. (PPLPHARMA)** Chart to show a **Cup and Handle** pattern, a common bullish continuation pattern. This pattern, along with volume and price targets, provides clues for potential upward movement.
### Key Elements:
1. **Cup Formation**:
- The rounded bottom (cup) suggests a period of consolidation after a downtrend. This shows that selling pressure has eased, and the stock is in accumulation.
- The price retraced by **84.36 INR (135.58%)** from its low, marking the depth of the cup.
2. **Handle Formation**:
- The chart shows a smaller, shallower pullback forming a handle near the right side of the cup. This is a sign that buyers and sellers are testing support before the potential breakout.
- The handle represents a consolidation before the next move up, and the breakout typically occurs once the stock clears the high of the handle.
3. **Measured Move Targets**:
- The height of the cup (around **105.55 INR**) is used to project price targets.
- The first target is set at **243.99 INR**, and the ultimate target is projected at **272.20 INR**, marking a **63.30%** rise from the breakout point.
4. **Volume**:
- There's an increase in volume near the breakout, which typically confirms buying interest.
- Volume is one of the most critical indicators when confirming a breakout from a Cup and Handle pattern, and this shows strength in the bullish move.
5. **Support and Resistance Levels**:
- **146.90 INR** and **167.28 INR** serve as strong support levels.
### Cup and Handle Analysis:
- **Bullish Bias**: The Cup and Handle pattern is a continuation setup. After the handle formation, a breakout above the handle's resistance line (which seems to have already occurred) could lead to a strong upward move toward the projected targets.
- **Price Targets**:
- **Immediate Target**: **243.99 INR**.
- **Extended Target**: **272.20 INR**.
- **Risk Management**: A potential stop-loss could be placed below the handle at **216.13 INR**, which represents key support after the breakout.
The stock looks bullish in the medium term, but you may want to watch for volume confirmation during the breakout and set up appropriate risk management in case of reversals. Let me know if you'd like further details!
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