It has formed an inverted bearish Cup and Handle. Of course, handle is still in the making. This chart pattern tends to trigger a bearish price movement. A limited fall in price up to 1450 is expected. This is based on depth of a cup. If you plot daily trading volume from 10th Jan to 22nd Jan then it supports or confirm the chart pattern.
It has completed a cup and handle chart pattern. If the price breaches 1425 then it will confirm a breakout. An upside of 100 point is expected on the breakout which is equal to depth of a cup
Two effective chart patterns have been observed and heading for completion and it might head check its high levels once again and might try a breakout . It is currently near it's support .
Nifty has break all its major resistance levels and trying to test its major high levels.
With Technical levels it looks like it is trying to make a Cup with Handle Pattern. So Be cautious with your trades.
This Diwali we might see the new levels of Nifty. But still who know the bad news.
So have a strict SL of 11470-11490 Range.
Or buy if it gives opportunity at...
Nifty is a cup and handle pattern and it looks like we can expect fresh new all time high, i might be calling it a little early but risk to reward begs me to keep long. Buy at CMP and expect nifty to break targets 11700 then 12000 very shortly
NSE:TORNTPHARM
CHART BY HARMONIC LEARNING AND EARNING
#TORNTPHARM
LONG RANGE 1725 TO 1735 SL 1597
T1 1952 BOOK 75% T2 2000 BOOK BOOK ALL OR USE TSL
A SMALL RESISTANCE IS AROUND 1820 TO 1840
VIEW IS BASED ON #CUPHANDLE PATTERN AND POSITIVE RSI BREAKOUT
POSITIONAL ONLY
A Cup and Handle Pattern can be seen forming on Daily charts.
The breakout of Handle could lead the stock towards 2350-2400-2450 Levels.
Previous High are 2275-2267.
Mahindra Finance- Cup & Handle formation looks positive for stock, T1= 460, if sustain T2 can be seen upto 490.00
CMP:- 449.25
Dt:- 30 Nov'18
NSE:M_MFIN
