Hindustan Copper had given a breakout after forming a VCP.. Now, it's pulled back and is reversing. It has broken the upper trend line on the 75 min. chart. Offers a good, low risk entry option at this level.
Breakout from Cup and Handle will take the price higher in the predicted trajectory. Simple Price Action Analysis :-)
Stop loss of 150
Expected 1st short term target - 200, followed by 215/217 levels that can be seen in next 1 to 1.5 months
- The view expressed here are my personal views. I am publishing this for my own records and what I see...
Daily Chart pattern
Reverse from Long term Resistance
Positive Volume Buildup
Can give good 20 to 30% Return in few days
Company is expected to give good quarter
Stock is trading at 12.16 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -3.91% over past five years.