CNX Metal | Cup and Handle pattern | Latest stock market news
(3 minutes read)

Stock name: CNX Metal

Pattern: Cup and Handle pattern

Time frame: Daily

Observation:

The Metal index has been consolidation for the last 1 year and has formed a Cup and Handle pattern, which is a bullish reversal pattern.
As per technical analysis, once an instrument breaks out of the neckline of such a pattern, it usually travels the distance equal to the height of the Cup.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

1) Lupin’s shares rose nearly 2% today after it announced the launch of Darunavir Tablets, 600 mg and 800 mg, to market a generic equivalent of Prezista Tablets of Janssen Products, LP. Darunavir Tablets, 600 mg and 800 mg (RLD Prezista) had estimated annual sales of $308 million in the US (IQVIA MAT March 2023), Lupin said in an exchange filing: ET

2) Longer-term prospects continue to be very strong: Sivaramakrishnan Ganapathi, Gokaldas Exports

3) Indoco Remedies shares slumped over 4% today after it informed the exchanges that its Sterile Facility (Plant II) located at Goa has received four observations by the USFDA.