Bharat Forge weekly is showing a nice cup and handle formation. Buy can be triggered on the trade above the breakout level of 1100. Expected targets are 1330 and 1430.
The stock has given rejection wicks / failed breakdowns from its support levels indicating bulls defending it.
Keep it in watchlist for going long.
If it closes or is going to close above the blue line, go long.
Hi I am new here so this will seem cave man like. I am still figuring this set up out but I think this is a great stock from a technicals and fundamentals stand point.
Technicals:
Great trading volumes
Relatively low RSI & CCI despite the upward moves
Another interesting thing to note is the movements this stock has been showing this entire month... pretty big...
Clear breakout visible on Bharat forge.... Bharat forge posted poor Q3 results but commentary was encouraging... this may be the reason of forming Marabozu candle.... expecting 1250-1300 levels in coming 6 moths...
Bharatforge will give a long Breakout
Above 935.60 it can go to level
Upside level till -956.80/978.70
Downside safe level- 919
Its a positional view...
