Cup and handle pattern breakout in spl industries..
disclosure: NOT SEBI registered. Charts produced here are for personal reference only and not any recommendations.
as in chart if SPTL breaks neckline above , target is 75 ++ else close to 5
Support is at 48, target is open and can be given after 10 days of stock movement.
Has found 8/1 support and has closed above it. Intermediate term target is around 73
looking good in short term
downside is limited. with a stop loss of 59 on closing basis scattered buying can be started for a target of 82-85
Support exists at 57.80. There is a strong resistance in 69-71 region. If it is crossed and the stock remains bullish, intermediate term target is 96
SPL Industries.... 11 years Breakout (Cup n Handle)
AFTER LONG TWO YEARS OF CONSOLIDATION STOCK PUT HIS FIRST LEG OUR.