Equinox India - Cup & Handle and Downward channel BOEquinox India has given a BO from downward channel and is also making an Cup & Handle pattern on weekly time frame. This looks quite positive and post breakout of Cup & Handle pattern it is heading for 3X returns. Other factors:
1. Recent accord of merger with Embassy group after 5 years makes Equinox is leading listed real estate company with one of the largest land bank.
2. After 2008, it has given breakout out of downward channel.
3. Cup & Handle is in making on a higher time frame so on breakout it can move 3X.
4. Volumes are also building
5. Price-Book ratio (1.7x) is lowest among other real estate players
Do keep this stock in your radar!!
Keep following @Cleaneasycharts as we provide Right Stock at Right Time at Right Price.
Cheers!!!