Timeframe: Daily (1D)
Pattern: Cup Formation (shown with arc)
Setup:
Price is forming a classic cup pattern.
The neckline (arc resistance) is near 2538.40.
Price has recently approached but faced resistance around the neckline.
Once the price breaks above the arc line with strong volume, a bullish breakout could be confirmed!
Targets After Breakout:
🎯 Target 1: 2800
🎯 Target 2: 3000
Stop-loss suggestion: As per your risk management.
Notes:
Price is currently below the 200 EMA. For a strong confirmation, look for a close above the arc and the 200 EMA with volume spike.
Disclaimer
This analysis is for educational and informational purposes only. It does not constitute financial advice or a recommendation to buy or sell any securities. Always do your own research and consult with a qualified financial advisor before making any investment decisions. Trading involves substantial risk.
Pattern: Cup Formation (shown with arc)
Setup:
Price is forming a classic cup pattern.
The neckline (arc resistance) is near 2538.40.
Price has recently approached but faced resistance around the neckline.
Once the price breaks above the arc line with strong volume, a bullish breakout could be confirmed!
Targets After Breakout:
🎯 Target 1: 2800
🎯 Target 2: 3000
Stop-loss suggestion: As per your risk management.
Notes:
Price is currently below the 200 EMA. For a strong confirmation, look for a close above the arc and the 200 EMA with volume spike.
Disclaimer
This analysis is for educational and informational purposes only. It does not constitute financial advice or a recommendation to buy or sell any securities. Always do your own research and consult with a qualified financial advisor before making any investment decisions. Trading involves substantial risk.
Trade closed: target reached
Target achieved. 30% upside has been seen in a month.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.