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Cup And Handle

Marico - Cup & Handle & Rectangle PatternMarico is making a cup and handle & a rectangle pattern on weekly time frame. Once breakout is done, we can see levels of 760-800. Keep monitoring and once breakout is done, we can see quick moves given FMCG sector is go-to sector now. Other factors: 1. Volumes have increased substantially, pls see weekly volumes 2. RSI is above 60 3. MACD is becoming positive 4. On breakout the price will break Oct'21 price, price breaking out of a long drawn structure has high potential "Clean Charts, Easy Charts" Learning & Earning !!! Cheers!!
NSE:MARICOLong
by Cleaneasycharts
Sectoral Analysis-Nifty ITA sectoral analysis after quite long time. I had previously covered Nifty Pharma & Nifty Energy which have outperformed Nifty. However, Nifty IT has largely underperformed in the last 2 years as compared to broader indices mostly because of recession in western countries. The sector is in consolidation since last 3 years and all the investors of large cap IT companies have been waiting for a breakout to happen. If the chart of Nifty IT is analyzed, we can see a possible cup and handle formation. Once Nifty IT index breaks 35500, handle breakout would be confirmed and we can expect 36800, 37450, 38700++ targets. Midsmall cap IT sector stocks like Persistent, Birlasoft, LTTS and many more have similar charts as of Nifty IT. Do keep in watchlist as they can give good returns in upcoming months. Please comment below if you want technofundamental analysis of any IT sector stock.
NSE:CNXITLong
by chartistamey
ALEMBICLTD - WEEKLY CHART WITH CUP AND HANDLE BREAKOUTHi All, This idea is about Alembic Ltd Alembic Limited is engaged in the businesses of Pharmaceuticals, Real Estate, and Power Assets. Fundamentals: Market Cap ₹ 3,087 Cr. Current Price ₹ 120 High / Low ₹ 122 / 72.2 Stock P/E 11.5 Book Value ₹ 85.1 ROCE 4.86 % ROE 12.6 % Equity capital ₹ 51.4 Cr. EPS ₹ 10.5 Promoter holding 70.9 % Market Cap to Sales 19.6 Sales growth 23.8 % Technicals As can be seen in the weekly chart of Alembic Ltd, if the price crosses 123 resistance it has an upside of 13% before meeting TOP RESISTANCE. Beyond that the stock will venture into uncharted territory of making ATH Trade should not be taken before the price close above MAJOR RESISTANCE Cup and handle formation with trend line resistance Happy Trading, Thanks, Stock-n-Shine
NSE:ALEMBICLTD
by Stock-n-Shine
MEMEUSDT: Cup & Handle Pattern Could Signal Major Reversal!Yello Paradisers! Are you ready for a potential breakout that could send MEMEUSDT soaring? Let's dive into the latest technical analysis and see what's brewing. 💎MEMEUSDT has recently broken out of a descending channel and is currently showing consolidation. This consolidation is forming a classic cup and handle pattern, which typically increases the probability of a reversal. 💎However, to confirm this bullish move, we need to see a breakout and candle closing above the resistance zone. This would significantly enhance the likelihood of a strong upward move. 💎On the other hand, if a pullback occurs, we might see a potential double bottom forming at the support zone. For confirmation of this bullish structure, we need to observe an I-CHoCH (Internal Change of Character) indicating a shift towards a bullish market structure. This would further increase the probability in our favor. 💎But caution is key! If MEMEUSDT breaks down and closes candle below the support zone, it will invalidate our bullish scenario. 🎖 Remember, patience and discipline are crucial in trading. Stay focused and make strategic decisions. This is the only way you can achieve long-term success in your crypto trading journey. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Nathan
Is RUNEUSDT Poised for a Bullish Breakout?Yello, Paradisers! Could RUNEUSDT be gearing up for a bullish breakout? Let’s break down the latest analysis and see what levels are crucial for this move. 💎RUNEUSDT is currently in a descending channel and has formed a cup and handle pattern, increasing the probability of a bullish move. However, we need more than just patterns to confirm the trend. 💎We need a breakout of both the descending channel and the resistance zone of the cup and handle pattern to confirm a bullish move. 💎If there's a pullback, we can expect a potential double bottom pattern at the support level. To increase our confidence, we should wait for an I-CHoCH (Internal Change of Character) indicating a shift towards a bullish market structure. 💎If the price breaks down and closes below the support level, it will invalidate our bullish scenario. In this case, it's better to wait for a more favorable price action to develop. Remember, Paradisers, trading is about discipline and patience. Wait for clear signals before making your move. Stay focused and play it smart! MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Nathan
Britannia breakout & re-testBritannia beautiful cut & handle pattern breakout + re-tested. Immediate target will be 5890 according to C&H range. Then trend based fib extension will drag it till 6500 to 7000. Follow the marked targets on the chart Keep this in mind. Options is a dangerous instrument to play. Please do not go wild on anything unless you know exactly what you doing. Even though your direction is right still you tend to loose in option buying. And market can always prove me wrong and i take that rights too. Experience traders also fail in this market. Only risk management will give you an edge. Don’t take any trades without SL. Respect the market, Ungli nahi katoge to pura hath katna padega. Beware. DISCLAIMER: I AM NOT SEBI REGISTERED ANALYST. ALL POSTS ARE EDUCATIONAL PURPOSES.NON ADVISORY, DISCRETIONAL NO CLAIMS, RIGHTS RESERVED. I AM NOT RESPONSIBLE FOR YOUR PROFIT OR LOSS.
NSE:BRITANNIALong
by ashishhc
2
JUSTDIAL [for swing]JUSTDIAL This stock Multi-year breakout with high volume spike today getting last movement upper circuit so .. buyer are very aggressive looking . Price Pattern: There is a cup and handle pattern forming, with the cup's bottom forming around the 2022-2023 period and the handle forming recently. The breakout from the handle is a positive sign and could lead to a strong upward move if it holds above the resistance. Trend Channel: The descending channel (handle part of the cup and handle) is shown, and the recent breakout from this channel is a bullish signal. Targets (TRG): The chart shows two target levels: the first target (1st TRG) around 1400 and the second target (2st TRG) around 1800. These levels can be considered as potential profit-taking points. Volume Spike: The green arrow indicating a volume spike suggests increased buying interest. This can be a sign of accumulation, which is bullish. Swing Trading Points Entry Point: A good entry point would be on a pullback to the breakout level, around 1200-1250, which is now a support zone. Stop Loss: Place a stop loss below the support zone, around 1150-1180, to limit potential losses if the breakout fails. First Target (1st TRG): Aim for the first target around 1400, as indicated on the chart. This level is likely to encounter some resistance. Second Target (2st TRG): If the price momentum continues, the second target around 1800 can be considered for additional profits. Volume Confirmation: Keep an eye on the volume. A continued increase in volume on upward moves will confirm the strength of the trend. News :- in.tradingview.com for MORE check in my Tv-id " in.tradingview.com " If You LIKE👌👌 MY Idea ......Boost.🔥🔥🔥.. its. "Disclosure : I am not Sebi-registered." This channel is for only educational purpose. Any profit/loss, I am not responsible. Before taking any trade on our charts / calls, please consult your financial advisors. Thanks
NSE:JUSTDIALLong
by asAMOLSUTAR