Cup & Handle pattern - SBIN Long

STATE BK OF INDIANSE

Description

⋅ Jun 12, 2020 5:35 PM

Note: This is for educational purpose only.

There seems to be a formation of "Cup & Handle" chart pattern formation in SBI. There is a "Bullish Piercing" candle stick pattern. Price will move up if next candle closes above high of the current green candle.

Comments

muramnagarjunareddy

⋅ Jun 15, 2020 4:12 PM

Cup n handle is not a reversal pattern , it is continuing pattern , prior trend should be uptrend

kalyanganguly

⋅ Jun 15, 2020 4:44 PM

@muramnagarjunareddy, Thanks for correcting me.

akashthorat84

⋅ Jun 14, 2020 4:38 PM

As per the Daily Chart of SBI, the pattern is not exactly Bullish Piercing but it is 'In-neck' pattern since the green candlestick has not pushed halfway into the red candlestick's real body for a reversal signal.

Disclaimer - only for education purpose.

kalyanganguly

⋅ Jun 14, 2020 4:59 PM

@akashthorat84, that's true. Thanks for correcting me.

ravinderkarwal4

⋅ Jun 14, 2020 1:25 AM

Any view on IRB INFRA.

kalyanganguly

⋅ Jun 14, 2020 7:43 AM

@ravinderkarwal4, - I have just published the chart for IRB. I would rather wait to trade on this due to the wedge pattern. There can either be an upper or lower breakout.

dshuvendu

⋅ Jun 13, 2020 8:50 AM

RSI looks decent, should hv positive breakout, but wait for 1 or 2 candles for it to close above previous day high. Please add on if I am missing anything. Thanks @kalyanganguly

kalyanganguly

⋅ Jun 13, 2020 9:45 AM

@dshuvendu, - absolutely agreed! If you want to be a little aggressive, you can enter in the trade if next days candle closes above high of the current candle.