Cup And Handle
PEL FORMING INVERSE HEAD AND SHOULDERThe stock is forming an inverse head and shoulder on larger aspect which also can be called the dominant or bigger pattern moreover if we look at smaller aspect the stock is forminng cup and handle the cup has been formed and now the process of handle is being initated . the downtrend part of the handle has been finished and now uptrend is going to take over . the stock has taken a crucial support at the 881 levels twice which shows further reliability . the stock can reach till 1131 level in no time and 1640 in 2-3 months followed by unprecedented rally
CONCOR: Channel Breakout & formed Cup & Handle PatternContainer Corporation has given a channel breakout and formed Cup & Handle Pattern.
#Current Price - 730
#Expected Target - 870
#Resistance Based Targets
- Target 1 - 750
- Target 2 - 780
- Target 3 - 814
- Target 4 - 870
#Support Based Targets (Can be used as Stoploss)
- Target 1 - 688 (For low risk tradders)
- Target 2 - 663 (For risk taking tradders)
Pattern is forming on daily chart.
Disclaimer:
This idea is only for education purpose, Please consult your financial advisor.
I am not SEBI registered.
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