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Cupandhandlepattern

ICICI Bank Ltd - Cup and Handle -DailyThe chart you've shared appears to represent a daily price chart of **ICICI Bank Ltd.**, with several technical patterns and annotations, primarily focusing on a **Cup and Handle** formation. Here’s a breakdown of key components and analysis: ### **Cup and Handle Pattern**: - This is a bullish continuation pattern, indicating the potential for further upward movement. - The "cup" part is formed when the price dips and then recovers, creating a "U" shape. The "handle" forms as a small consolidation after the cup, before a breakout to the upside. ### **Support and Resistance Levels**: - **Neckline (1249 INR)**: This level is marked as the breakout point of the Cup and Handle pattern. The price has broken above this neckline, confirming the bullish pattern. - **High (1272.25 INR)**: This is the most recent high at which the price is trading. - **Potential Target (1342 INR)**: The chart suggests that the price can test this level based on the measured move from the height of the Cup and Handle pattern. - **Volume**: The volume bars at the bottom of the chart show that there was an increase in volume as the price broke above the neckline, supporting the breakout. Trend Channels: - The yellow parallel trendlines show an ascending price channel, indicating that the stock has been in a bullish trend for a while. The price appears to be respecting these lines as dynamic support and resistance. ### **Measured Move**: - There are vertical lines drawn from the neckline to the top of the cup, showing a measured move of **94.20 INR**, or an 8.17% gain, which projects a target of 1342 INR. ### **Volume Analysis**: - The chart shows a spike in volume recently, which is crucial in confirming the breakout from the Cup and Handle pattern. Strong volume usually accompanies valid breakouts. ### **Summary**: - The chart is bullish overall, with the price breaking out from the Cup and Handle pattern. - The measured move suggests a price target of **1342 INR**. - The breakout is confirmed by volume, and the ascending channel suggests the continuation of an uptrend. - As long as the stock stays above the neckline and within the upward channel, the bullish outlook remains intact. This could be a good opportunity for bullish traders if the price sustains its position above the neckline level of 1249 INR.
NSE:ICICIBANKLong
by VCharts_TA
BLUEDART - Cup and Handle—Breakout -DailyBLUEDART - Cup and Handle—Daily Upward Trend Line: Indicates a general increase in price over time. Neckline - 8995 => exit: Suggests a potential exit point at the price level of 8995. Breakout with Very High Volume: Indicates a significant price movement accompanied by high trading volume, which often confirms the strength of the breakout. For a potential price target of 12,555. This analysis suggests that the price has broken out of a previous resistance level with strong volume and may continue to rise, potentially reaching the 12,555 level. However, always consider other factors and conduct further research before making any trading decisions
NSE:BLUEDARTLong
by VCharts_TA
RGL Cup and Handle Formation Signals Potential 16% UpsideIn the daily time frame chart of Renaissance Global Ltd (RGL), I have identified a compelling Cup and Handle pattern, which is a bullish continuation formation that suggests potential for upward movement in the stock price. Currently, the stock appears to be in the process of forming the handle, a critical phase where consolidation occurs after the initial cup formation. The handle formation is being supported by the Fibonacci retracement level of 61.8%, which is often viewed as a significant support area following a price correction from a recent HH. This retracement suggests a healthy pullback, providing a solid base for buyers to re-enter and push the stock higher. Over the past few weeks Volume growth during the formation of the handle is a bullish sign, indicating increased interest and participation from traders and investors. MACD on weekly time frame has crossed above the zero line, with the histogram currently reading above 3. This bullish crossover indicates a strengthening momentum, suggesting that the stock may continue its upwards trajectory. Additionally, the RSI for the weekly chart is positioned around 66, inching toward the overbought territory, signaling robust buying pressure, but caution is warranted as the stock approaches these levels. Currently, the stock appears to be in an accumulation zone, with the price fluctuating between 120 and 125. This range may serve as an opportunity for investors to build positions as the underlying fundamentals, supported by technical indicators, with a solid support level is established at 104. The next resistance target is identified at 146 which could result in approximately a 16% return from the current accumulation zone. Disclaimer: The information provided in this stock analysis is for informational and educational purposes only and should not be construed as financial advice. Always seek the advice of a qualified financial advisor or conduct your own research before making any investment decisions.
NSE:RGLLong
by NiftyNotions
MOREPENLAB - Multiyear Breakout -Cup and Handle - MonthlyMOREPENLAB - Cup and Handle pattern, which is a bullish continuation pattern indicating a potential upward trend. Here are some key points from the chart: Cup and Handle Pattern: This pattern suggests that after a period of consolidation (the “cup”), there is a slight dip (the “handle”) before a potential breakout to higher prices. Neckline: The neckline is marked at 74 will also act as stoploss. Target Price: The potential target price is around 146, if the pattern completes successfully. Volume: There is a significant increase in trading volume, highlighted by a large green bar. This often indicates strong buying interest and can support the bullish breakout. Overall, the chart suggests a positive outlook if the price breaks above the neckline with strong volume support. A multiyear breakout occurs when a stock or asset breaks out of a long-standing trading range, typically lasting several years. This breakout is significant because it often signals a major shift in market sentiment and can lead to substantial price movements. Here are some key points: Long-Term Resistance: The asset breaks above a resistance level that has held for several years. Volume: A multiyear breakout is often accompanied by a significant increase in trading volume, indicating strong investor interest. Technical Indicators: Various technical indicators, such as moving averages, RSI, and MACD, can help confirm the breakout. “21 yrs Multiyear breakout with good volume” suggests that the asset has broken out of a trading range that lasted for 21 years, supported by strong trading volume. This is a bullish signal indicating potential for further price appreciation. Fundamental Factors: Sometimes, fundamental changes in the company’s business, industry, or broader economy can drive a multiyear breakout.
NSE:MOREPENLABLong
by VCharts_TA
AMIORG -Cup and Handle pattern - WklyAMIORG -Cup and Handle pattern, which is a bullish continuation pattern often used in technical analysis to predict future price movements. Here are the key points: Cup and Handle Pattern: This pattern suggests a period of consolidation (the “cup”) followed by a slight dip (the “handle”) before a potential breakout to higher prices. Neckline/Support: The neckline is marked at 1429. This is a critical resistance level. If the price breaks above this level, it could confirm the pattern and lead to further gains. Cup Height: The height of the cup from the neckline is 598. This measurement can be used to estimate the potential price target if the pattern completes successfully. Volume: We see some volumes from 4 weeks indicate the strength of the buying.
NSE:AMIORGLong
by VCharts_TA
NAZARA - Cup and Handle breakout - WklyName - NAZARA Pattern - Cup and Handle breakout Timeframe - Daily and Weekly Volume - Very Good Cmp - 1049 Can test - 1390 SL - 989 Cup and Handle pattern, which is a bullish continuation pattern indicating a potential upward trend. Here are some key points from the chart: Cup and Handle Pattern: This pattern suggests that after a period of consolidation (the “cup”), there is a slight dip (the “handle”) before a potential breakout to higher prices. Neckline: The neckline is marked at 989. This is a critical resistance level. Price breaks above this level, it has confirm the pattern and lead to further gains. Target Price: The potential target price is around 1390 if the pattern completes successfully. Volume: There is a significant increase in trading volume, highlighted by a large green bar. This often indicates strong buying interest and can support the bullish breakout. Overall, the chart suggests a positive outlook if the price breaks above the neckline with strong volume support. Price in range from 475 to 989 for 2.6 yr, Friday price closed abv that. Nazara Technologies reported its Q1 FY24 results, showcasing a strong performance. Here are the key highlights: Revenue: ₹250 crores, a slight dip from ₹254.4 crores in the same quarter last year1. Net Profit: ₹23.6 crores, marking a 12.9% increase from ₹20.9 crores in the previous year2. EBITDA: ₹24.9 crores, a 24.7% decrease year-on-year2. The growth in net profit was driven by a strong performance in the esports vertical, despite lower profits in the gaming segment and losses in adtech2.
NSE:NAZARALong
by VCharts_TA
2
INDUSINDBK - Cup and Handle breakout - DailyName - INDUSINDBK Pattern - Cup and Handle breakout Timeframe - Daily Volume - Avg Cmp - 1464 Can test - 1570 SL - 1450 Q1 FY 2023-24 Key Highlights Consolidated financial results o Net Interest Income (NII) grew by 18% YoY to ₹4,867 crores from ₹4,125 crores o NIM improved to 4.29% as at Q1 FY24 as compared to 4.21% as at Q1 FY23 and 4.28% as at Q4 FY23 o Quarterly Net Profit grew by 30% YoY to ₹2,124 crores from ₹1,631 crores o Deposits grew by 15% YoY to ₹3,47,047 crores from ₹3,02,719 crores o Gross NPA and Net NPA ratios improved to 1.94% and 0.58% from 2.35% and 0.67% YoY respectively and PCR at 71% as at June 30, 2023 o CRAR as on June 30, 2023 at 18.40% as compared to 18.14% on June 30, 2022 Always welcome for any comments with your feedback or give it a like if you find it useful. ========================================================================== Disclaimer: This analysis is for informational purposes and not financial advice. The author is not a registered financial advisor. Individuals should conduct their research and seek professional advice before making investment decisions
NSE:INDUSINDBKLong
by VCharts_TA
WIPRO -Cup and Handle breakout - DailyName - WIPRO Pattern - Cup and Handle breakout Timeframe - Daily Volume - Very Good Cmp - 550 Can test - 604 SL - 542 Here’s a summary of Wipro Ltd’s Q1 FY25 results: Financial Highlights Net Profit: Wipro reported a net profit of INR 3,003 crore, a 4.6% increase from the same quarter last year1. Revenue: The consolidated revenue for the quarter was INR 21,964 crore, which represents a 3.8% decline year-over-year (YoY)1. Operating Margin: The IT services operating margin improved to 16.4%, up by 40 basis points quarter-over-quarter (QoQ)2. Operational Highlights Large Deal Bookings: Large deal bookings for the quarter were at $1.2 billion, an increase of 31.1% QoQ and 9.5% YoY2. Voluntary Attrition: Voluntary attrition was at 14.2% on a trailing 12-month basis2. Comparative Performance Quarter-over-Quarter: Compared to the previous quarter, net income increased by 5.2%2. Outlook Wipro expects revenue from its IT Services business segment to be in the range of $2,617 million to $2,670 million for the next quarter2. Always welcome for any comments with your feedback or give it a like if you find it useful. ========================================================================== Disclaimer: This analysis is for informational purposes and not financial advice. The author is not a registered financial advisor. Individuals should conduct their research and seek professional advice before making investment decisions
NSE:WIPROLong
by VCharts_TA
1
CANFINHOME - Cup and Handle breakout - DailyName - CANFINHOME Pattern - Cup and Handle breakout Timeframe - Daily Volume - Very Good Cmp - 931 Can test - 1048 SL - 905 Here’s a summary of Can Fin Homes Ltd’s Q1 FY25 results: Financial Highlights Net Profit: Can Fin Homes reported a net profit of INR 109 crore, up from INR 93.15 crore in the same quarter last year1. Total Income: The total income for the quarter was INR 450.84 crore1. Disbursements: Disbursements during the quarter rose to INR 894 crore, compared to INR 401 crore in the year-ago period. Operational Highlights Loan Book: The loan book reached INR 32,505 crore, reflecting an 18% YoY growth. Clientele Base: The clientele base stood at 2.46 lakh2. Segment Contribution: The salaried and professional segment constitutes 73% of the outstanding loan book. Asset Quality Gross NPA: The Gross Non-Performing Assets (NPA) ratio improved, indicating better asset quality. Can Fin Homes has shown robust growth in profitability and loan disbursements, driven by strong demand for housing loans and improved asset quality. Always welcome for any comments with your feedback or give it a like if you find it useful. ========================================================================== Disclaimer: This analysis is for informational purposes and not financial advice. The author is not a registered financial advisor. Individuals should conduct their research and seek professional advice before making investment decisions
NSE:CANFINHOMELong
by VCharts_TA
PEL - Cup and Handle breakout -DailyPEL - Chart shows PEL gave Cup and Handle breakout on 23rd Aug and consolidating in range 1043 to 1089. 13th Sept gave breakout with good volumes. Based on Cup and Handle pattern, price can test 1350 by keeping stoploss at 1089 and 1043(breakout level). Name - PEL Pattern - Cup and Handle breakout Timeframe - Daily Volume - Good Cmp - 1119 Target - 1350 SL - 1089 and 1043 in.tradingview.com Here’s a summary of Piramal Enterprises Ltd’s (PEL) Q1 FY25 results: Financial Highlights Net Profit: PEL reported a net profit of INR 181 crore1. Net Interest Income (NII): NII increased by 34% YoY to INR 900 crore1. Total Revenue: The total revenue for the quarter was INR 4,162.9 crore2. Asset Quality Gross NPA: The Gross Non-Performing Assets (NPA) ratio stood at 2.7%1. Net NPA: The Net NPA ratio was 1.1%1. Operational Highlights Total Assets Under Management (AUM): The total AUM increased by 10% YoY to INR 70,576 crore1. Retail AUM: Retail AUM grew by 43% YoY, crossing INR 50,000 crore1. Cost to Income Ratio: The cost to income ratio improved, with operating expenses to AUM down by 104 basis points YoY to 4.6%1. Strategic Initiatives Securitization Program: PEL expanded its securitization program and raised a US$100 million social loan and a US$300 million sustainability bond1. Merger Update: The proposed merger of PEL with Piramal Capital & Housing Finance Ltd (PCHFL) is on track, with expected completion within the stipulated timelines1. Comparative Performance Quarter-over-Quarter: Compared to the previous quarter, the profit before tax (PBT) was INR 205 crore, down from INR 233 crore in Q1 FY241.
NSE:PELLong
by VCharts_TA
LICHSGFIN - Cup and Handle -Breakout - DailyLICHSGFIN - Chart gave Cup and Handle breakout with good volume. We can keep stop loss as low of the breakout candle which is 703. Based on the pattern target can be 723 range with time frame 3-6 months. Name - LICHSGFIN Pattern - Cup and Handle breakout Timeframe - Daily Volume - Good Cmp - 723 Target - 811 SL - 703 Fundamental analysis of LIC Housing Finance Ltd (LICHSGFIN): Company Overview LIC Housing Finance Ltd is a prominent housing finance company in India, providing loans for the purchase, construction, repair, and renovation of houses/buildings. It also offers loans to corporates for staff quarters and other lines of credit.
NSE:LICHSGFINLong
by VCharts_TA
LTTS - Watchlist - Ascending triangle - Cup and handle -Wkly LTTS - Forming Ascending triangle and cup and handle patterns on weekly charts. Need to close above 5890 for breakout, which can test 8000 levels in a 6 to 12 month timeframe. We can have it in watchlist for next week. Strengths The company is virtually debt-free. The company has a good ROE track record of 27.20%. The company has delivered average profit Growth of 23.19% in the last 3 years. The company has delivered good income growth over the past 3 years of 20.47%. The company has effective cash conversion ratio of 106.58. Always welcome for any comments with your feedback or give it a like if you find it useful. in.tradingview.com
NSE:LTTSLong
by VCharts_TA
2
Tata Consumer is currently forming a classic cup and handleTata Consumer is currently forming a classic cup and handle pattern, with the key to confirmation lying in a close above the 1250 mark. Traders should watch for a decisive break above this level to validate the pattern and potentially signal a continuation of the bullish trend. A successful close above 1250 could pave the way for further gains, while a failure to break out or a close below this level might suggest a need for caution. Monitoring volume and price momentum around this resistance level can offer additional clarity on the strength of the breakout.
NSE:TATACONSUM
by TradePatternsLikePro
2
A year-long rounding bottom pattern on M_MFINThe key for traders is to watch for a confirmed breakout of the rounding bottom, ideally with high volume. If no immediate breakout happens and a pullback occurs, traders should stay alert for the formation of a cup and handle, which could signal an even stronger continuation of the bullish trend. Both outcomes—whether a breakout or the formation of a cup and handle—are bullish signals, but understanding the pattern fully can help traders position themselves more effectively.
NSE:M_MFIN
by TradePatternsLikePro
ZAGGLE - - Cup and Handle - Breakout - DailyName - ZAGGLE Pattern - Cup and Handle breakout Timeframe - Daily Volume - Very Good Cmp - 409 Target - 543 SL - 388 Zaggle Prepaid June quarterly results Price ₹ 409 M.Cap ₹ 5,017 Cr PE 85.5 Item YOY Jun 2024 Mar 2024 Jun 2023 Sales ⇡ 113% 252 273 118 EBIDT ⇡ 182% 22.4 27.2 7.95 Net profit ⇡ 712% 16.7 19.2 2.06 EPS ⇡ 523% ₹ 1.37 ₹ 1.56 ₹ 0.22 Always welcome for any comments with your feedback or give it a like if you find it useful. Item---------------YOY Sales ⇡-------------113% EBIDT⇡------------182% Net profit ⇡ -----712% EPS ⇡ ----------- 523% tried to update the result but after publishing alignment issue.
NSE:ZAGGLELong
by VCharts_TA