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Target-912| Flag & Pole | Upward trend line The stock has turned upwards after taking support at the confluence of two moving averages 20-DMA and 50-DMA, indicating bullishness. Further, it is on the verge of a breakout from a trendline resistance formed joining recent highs. Also, it has a neckline of a bullish Head & Shoulders pattern placed at Rs 857. A successful breakout on healthy volumes will resume the uptrend. Technical indicators suggest that the breakout is on cards.
NSE:BLUESTARCOLong
by amaansiddiqui45
Target - 681, Cup & Handle formationThe Tata Group is in the final stages of acquiring a majority stake of 68 per cent in Supermarket Grocery Supplies, which runs and operates online grocery brand BigBasket, for about Rs 9,300-9,500 crore, said a source close to the development. The deal — biggest in the online grocery space so far—values BigBasket at Rs 13,500 crore (around $1.85 billion). This comes about 20 months after the Hari Menon-led Bengaluru company had entered the unicorn club (companies with valuation of at least $1 billion). The deal, which is expected to close in the next four to five weeks, will give exit to investors Alibaba, Abraaj Group and IFC. The parties are awaiting approval from the Competition Commission of India (CCI). Stock is also forming Cup & Handle.
NSE:TATACONSUM
by amaansiddiqui45
Basic Pattern: explanation of Cup and Handle pattern.How to trade Cup and Handle pattern? The Cup and the handle pattern is basically the retracement from the prior top to about 1/3rd of the vertical height of the cup. Cup and Handle pattern can be seen both as a bullish continuation or reversal pattern. Cup The Cup is usually “U” shaped and may be considered as a rounding bottom with almost equal highs on the both side. Handle The handle is usually the pullback and the pullback is about 1/3rd of the size of prior advance. The smaller the pullback, better is the strength of the formation and higher the possibility of breakout. Volume The breakout from the handle’s resistance should be appear with increased volume therefor conforming the breakout. Target The projected target from the breakout is usually the vertical distance from the high to the bottom of the cup. If you want more education ideas please LIKE, and give SUGGESTIONS in the COMMENT box below.
NSE:NIFTYEducation
by Jay_shree
44