Weekly Chart : Cup and Handle Pattern formation,
Target : 399.15
SL : 110
Risk is yours and Reward is too yours totally.
Reward : Risk Ratio = 6.17 : 1,
Time Frame : 1 to 3 years.
View is educational purpose only.
Amara Raja Battery is likely to form a Cup & Handle Pattern.
Wait for breakout from 710 level.
#Current Price - 645
#Expected Target - 970
#Resistance Based Targets
- Target 1 - 790
- Target 2 - 880
- Target 3 - 970
#Support Based Targets (Can be used as Stoploss)
- Target 1 - 671
- Target 2 - 608
Pattern is forming on weekly chart.
This idea is...
MAHINDRA & MAHINDRA or M&M is breaking out of a 2month cup and handle pattern and sustaining for 2 days above the breakout. It is important it sustains the breakout to move higher. Recent volume and RSI high.
UCOBANK has rapidly broken out of a huge 6 Year Cup Handle pattern. The massive breakout over the last 2 days has pushed it over 35%! Huge volumes and high RSI. No wait for profit booking and see if it sustains. The whole PSU bank pack is breaking out.
PUNJAB SIND BANK (PSB) is showing a 5 year Cup Handle Breakout with high RSI and good volumes. Obviously it is the week's first day and the weekly candle is still forming so look out for the candle close is important and the breakout should sustain over the next weeks. The PSU bank sector is also bullish now as many other banks are breaking out too.
1. Stock is penny, but chart shows strength
2. Risk to reward is 1:80 for long term
3. Only difficut part is holding period, but still worth the reward if this bull run continues for few more years
4. Small risk can be a worthwhile in such strong chart
HIUDCO formed a Cup & Handle Pattern and started give breakout from 59 level.
Stock can be accumulated around 59-60/61 level.
T1 is expected at 67 and T2 is expected around 73.
Overall expected target is around 77.
Set stoploss at 54.5 and increase the stoploss when stock moves up.
Pattern is tracked on daily chart.
This idea is only for education...
Kotakbank is in the process of making cup n handle pattern on hourly charts with good OI build up.
Although it hasnt confirmed yet but i am pre empting that it ll.
Could be bought here or above breakout level of 1886 with mentioned stoploss & target.
Option Tradders can buy 1860 ce .
Here we had shared possible Elliott wave counts on SOMI CONVEYOR BELT in which wave structure is clearly indicating impulse up move ahead, along with cup and handle chart pattern breakout, which is itself a fresh bullish signal.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor...