This chart shows the price movement of Sarda Energy & Minerals Ltd. (SARDAEN) on a daily timeframe. Here’s the analysis:
1. Cup and Handle Formation:
• The green curve indicates a cup pattern, which is typically a bullish continuation signal.
• The smaller blue descending channel following the cup indicates a potential handle formation.
2. Breakout...
In the down turn Grasim had make a rounding bottom. It broke out and is currently at retest level. A bounce from here will take it much higher. Break down of horizontal trend line will negate the view.
