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| Item Details | Price | ||
|---|---|---|---|
Stock name: Radico Khaitan
Pattern: Cup and Handle pattern breakout
Time frame: Daily
Observation:
The stock is an up-trending stock and had fallen 45% from January to May 2022 period. The stock then consolidated and made a Cup and Handle pattern and has yesterday broken out of the said pattern. In such a pattern, once the stock closes above the neckline (1011), it travels the distance equal to the distance between the neckline and the bottom of the cup, the distance being taken from the neckline itself. However, there is also a shooting star being formed on a daily time frame and hence traders should be cautious. We may see some good up-move in this stock once the stock gives a good closing above the 1100 level.
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Disclaimer: This analysis is purely for educational purposes and does not contain any recommendations. Please consult your financial advisor before making any financial decision.
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