DEEPAKNTR | Multiple Pattern Breakout in Daily & weekly chartChart Analysis
1) Cup formation - weekly chart pattern
2) inverted head and shoulder formation - daily chart
3) Good EMA-20 support taken in daily chart
4) Good volume breakout as well
Cupformation
L&T Finance Holding SL 80/82Lets drill down to weekly time frame
Price gave a pullback and trying to move in a channel
EMAs acting as support
200Day EMA may act as a resistance for time being
we need a weekly close above 95.35 or 96 so that the stock can move up freely
levels are marked in the chart for positional targets
RSI divergence on Weekly time can be observed along with the same Relative has also entered into a positive territory
Stock is clearly taking support at 200Day EMA
We also have Anchored Vwap support
Avg volume is also looking good
Trying it make volatility compression pattern i.e. VCP pattern
The overall price structure needs to be understood and its looking nice over here
