@guruprasathpr, It is somewhat similer to cup and handle pattern.
If you are in the market for a while you must know that in market everything does not happen like written in books. You will have to tweek it here and there little bit.
Just manage your risk well.
BlondeMight
⋅
@Vaibhav_Kothawale, not because it was cup & handle, reasons for huge drive were from institutions.
some fcators were :
1. superb earnings from it's peers
2. Dr Reddy's share fell whopping 13% due to US issues,
3. SunPharma is in accumulation stage since long time
4. Before the lastest quater earnings were released institutions have bought it already ( at 1:55 P.M 30th july ), major data providers like money control etc published the news very late,
5. there were no block/bulk deal but there was sudden extraordinary volume after 1:55, because 1. to give direction, 2. to manipulate the track records
Vaibhav_Kothawale
⋅
@BlondeMight, Might be possible But I had posted this on the previous day. and there are barely any chances that I would have known all this things.