there are two ways the price can go up to the target line
1- breakout of rounding bottom
2-breakout of cup and handle
target will be same in both the cases
entry only when weekly price closes above the red line
can PFC give us good return in near term?
forming head and shoulder, cup and handle at the same time.
personally i will be entering at 140 and will add more after price closes above 150 in daily chart.
Above 150 will be breakout in symmetrical triangle in weekly chart, and will hold for next 1-2 years.
SHOULD WE ENTER IN MCX FOR SHORT TERM BASED ON CHART.
IF IT REACHES IT TARGET, IT WILL ALSO BE TRADING AT ALL TIME HIGH, WHICH WILL BE ANOTHER BREAKOUT
CMP - 1600
TARGET - 1900+++ (CAN HOLD FOR LONG TERM, TARGET SHOULD BE MUCH HIGHER)