Cup and Handle in SBICARD

Jun 9, 2021

Notes:

• Cup and Handle formation started on 2nd March.
  
• The latest candle (formed on 9/6/2021) showed a strong breakout from a channel consolidation in the handle part. It also broke and closed above the top end of the cup.
  
• Could expect a retest/consolidation of the top of the cup before resuming any upward move (since the breakout was not supported by a strong volume). Hence, Possible accumulation zone near the present levels.
  
• Topside target in such a pattern is taken as the depth of the cup. In this case, around 240 points or 20%.
  

Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.

Jun 14, 2021

Note

Not looking so great so far.

Jun 17, 2021

Order cancelled

Falling out of pattern (Even though the volume is very less).

Jul 1, 2021

Note

Looks like a channel consolidation between 955 and 985.