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Yes2Profits
Jul 14, 2021 6:15 AM

ZENSARTECH - Classic Cup and Handle BO Pattern Long

ZENSAR TECHNOLOGIENSE

Description

This stock has formed the classic cup and handle pattern indicating a possibility of a breakout.
Either It can be bought at current levels for a near term target of 360 and 380 respectively, or you can wait for it to cross 350 (which will be a confirmation of much higher numbers considering that it will breach all time high).
Stop loss can be maintained at 325, which is the bottom of the handle.

Supporting Technicals:

RSI: 65.6 ( Bullish but not overbought)
ADX: 25 (suggesting strong trend)
MACD is above its center and signal Line, this is a bullish indicator.

P.S: This idea is for educational purposes only and should not be construed as an investment advice.

Trade closed: target reached

Targets achieved on 16th July, '21
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