Not exactly a C&H breakout but a breakout after much consolidation. (Since Aug 2020). Volumes have again never been this high during the entire consolidation period.
Long at CMP with a Stop below 170 for short term traders.
Positional traders can keep a stop below the 20EMA closer to 161.
Disc: Added a position in this stock today towards closing.
Stock has given clear inverse head and shoulders pattern breakout over weekly chart and is looking good for a big move from here. Positions can be made with the stop-loss and targets mentioned above. Targets will be achievable in no big time.
NSE:STLTECH Levels are mentioned in the chart...
Note:
1. Views are personal. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline not the big target...
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3. Views given here is not a tip rather it is for educational...
Cup & Handle pattern forming on Daily/Weekly Chart of STERLITE TECHNOLOGIES. BUY above 175,180, SL 138.9, Target(s) - 200, 230, 250, 275. Cup Depth = 115. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
