First source solution (FSL) looking for breakout from parallel channel. Third Elliot Wave has been started which can be confirmed by volume blast.
Formed cup and handle pattern which is near breakout point.
All dips towards 42.3 - 40 are long opportunity Stop Loss 34.9 on daily closing basis. Check chart for more details.
Third wave target 58
Fourth Wave target...
Cadila started Human trails of COVID-19 Vaccine.
The daily chart shows classic Cup and Handle formation. Recent Close is above the Handle line.
Hence backed by the news and supported by technical indicators, upmove expected.
Price levels are congested in a narrow zone, hence various support-resistance lines can be observed.
Entry Price: CMP
Target 1: 404
BEPL is possibly forming a Cup and Handle Pattern on Daily Time Frame. In the eventuality of its completion price implication is going to be substantially higher from the CMP. However, for now, we assume the price implication only upto the point of Cup's Brim ( See, Horizontal Line).
Target : 44
Stop Loss : 37
Cup & Handle Formation on Aditya Birla Capt.
Trend Line of Breaks & its Confirmation is also seen.
No Volume seen @ 16th July justifying Fake Upward Trend.
Overall Short the Share.
Its My own Analysis, & Not Recommending it to anybody to Short.
Clear Bullish Setup - Cup and Handle Formation
Also the resisitance level around 3600 levels has been tested multiple times and hence became weak which leaves a high probability of a good bullish breakout in next few trading sessions.
My view: Long (for short term view) on breakout supported by good volumes.
PS: Trade with caution or wait for...
The Chart has broken out from CUP pattern hence support level 1 at 500 will act as strong support for the scrip.
In short term chart, there is Support level 2 as well which is also forming a continuation triangle pattern.
The Long term target is 740 and it should reach there till March 2021.
Currently stock is trading at 560.
Put your stop loss at 550 and...
CMP = 10.4
Upside Target = 12.7 (22%)
SL = 9.4 (9%)
Look to accumulate on dips within the current channel so that your buy price is as close to the stoploss.
If it breaks out of the channel in the next trading session, buy with a STOPLOSS of 10.7 - 10.4 based on your risk appetite.
Help Me to Help Us.
I believe in keeping the chart simple with minimal...
BALAKRISHNA INDUSTRIES: A 17 week long Cup with handle pattern. with a cup depth of 46% and currently the CMP at the neck. If breaks we can anticipate a good move upward.
Disclaimer: This idea has been posted strictly for educational purposes only and any investment shall be taken post proper due diligence and consultation of a certified Financial Advisor
At the time of charting fount that pattern, A " cup and handle" pattern, Its a bullish pattern.
I have not traded this pattern before, but it is created at resistance level so we will track on it. it it break we catch this opportunity.
1015 is a pivot point resistance and around 1130-1140 has been a long term support
so that might be the long term resistance also for titan on the way back up.
It can also bee seen as a cup and handle pattern