Cup pattern formation on USOIL and it leads to break upside.
Trade:
Buy Zone - 46.15 to 46.30
Target Zone - 46.95 to 47.10
Stop Loss Zone - 45.79 to 45.60
CUP pattern formation on Bank Nifty and its leads to break upside. MACD showing the strength of bull.
Trade:
Buy - 23751 (spot value)
Target - 23900 (spot value)
Stop Loss - 23650 (spot value)
1. Prior trend is uptrend
2. Little Pause for a tea/coffee. ( Formation of Cup and Handle)
3. Grab your seat now and get ready to continue.
4. TGT 1640
It is been observed on the 15 minutes chart that the price action forming cup and handle pattern, indicating a bullish move ahead.
Target 1: 632
Target 2: 638
SL: 620
Ascending triangle breakout soon on a daily chart as well.
Keep SL according to risk appetite and go for given targets.
Falling rubber prices also good for the stock, good results too.
Everything is in the chart.
T1 is given is height of the pole.
T2 is given as cup depth.
T3 is given as rounding bottom depth.
Could keep stop loss at cup and handle breakout level.
P.S : Wait for end of week confirmation on the breakout. Preferable if the breakout is with above average volumes.
Also look for positive signs on indicators like MACD and...
BYKE price action has given a cup and handle break out at 190, buy zone 185/190 target for 213 & 224 stop loss 178. positive MACD divergence. buy only confirmation on bullish candle. fundamentally good company.
Siemens multi year cup without handle pattern breakout . Targets can be 1600+ with SL below 1330 Closing basis. Fundamentally Its a large cap well positioned for infra growth in India.
ONGC is forming a two year long bullish Cup & Handle pattern with neckline at 208. Cup is already formed and Handle formation underway. Wait for a decisive breakout above 210 for entry with target of 340.
It has been observed that ICIL chart Cup and Handle break out near 190, can watch near 190 to 195 for target of 240 cup length as well as previous resistance zone stop loss below 180.
It is been observed that ANDHRA BANK, has given a cup and Handle breakout near 57.5. bullish in nature. watch near 56 to 58 for target 63/72 stop loss below 54.
