ITC (Cup&Handle/RoundingBottom) TGT 320Rounding Bottom, Cup and Handle, Double Bottom all rolled into one chart on ITC (weekly basis).
The depth of the cup is around 80. That means it should go till 240+80=320 once the breakout is achieved.
Strategy: Buy levels:195-210 (due to recent Rs 5 Dividend). Hold till atleast 300. Time Frame:1-6 Months
(Only for illustration purposes. No buy/sell advice.)
Roundingbottom
midcap, midcap, midcapindex at all time high but stock are not. the line adjacent to base is sl and target can be 2013 or 2018 highs.
BEML- Breakout with various PatternBeml is trying break its resistance which it has tested multiple times.
Various pattern is attached for the reference.
Cup and handle Pattern:-
Inverse Head and Shoulder Pattern:-
One other pattern which is rounding bottom pattern:-
Above all this we can also look at volumes at current price which is rising which is indicating for further movement.
Keep an eye folks fingers crossed. Happy Trading.
Sunpharma - Positional View , Long Term investment ( 40 % gain )Fundamentals :
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- The whistle blower case got settled down
- Stock was on 3 years consolidation
- Now it's on the same resistance level of 654 after 2018
- Chances are very high for Break Out
Technicals :
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- Rounding bottom formation in the weekly chart
- Bullish candlestick pattern ( Morning Star ).
- if it crossed the resistance level of 655. Then by the end of 2021, it may hit the target of 940
- RSI > 60
- Bollinger Band challenged
- MACD +ve cross over
- above 50 EMA
- ADX strength is Bullish
GRAPHITE INDIA 1. GRAPHITE INDIA is entering into old boundaries as it gives a close above a crucial long term resistance and stock has formed rounding bottom creating a good base.
2. B/O @483 with more than avg Vol plus closing above it is a green signal.
3. If it sustains abv 483,
G0 L0NG @480-490
TRG @553/616
SL @424
[Educational] IRCTC Rounding Bottom Pattern Intraday AnalysisIn today's session, IRCTC has given a breakout of rounding bottom pattern. After this breakout, This stock gives quickly our projected initial target is 1750+ which is the height of rounding bottom pattern.
Traded position:
Buy Entry IRCTC at 1700-1710
Stop-loss 1680
Initial Target- 1750(1:2.5 risk reward)
stay long - reasoning belowmomentum rsi study
hourly=76 > 4h=73 > daily=70 > weekly=68
all big time frames above 55mark
as per this parameter - stay long till
daily rsi close is above weekly close
weekly time frame can be kept
as support trend line for long
rounding pattern neckling cross on 4hour tf
weekly chart below for reference