Stock name: Ramkrishna Forgings

Pattern: Cup and Handle Breakout

Time frame: Daily

Observation:

The stock, with the overall markets, has been correcting since October 2021. However, the recovery in this stock is better than the overall market and the stock is almost at all-time highs.

If we see carefully, we can see a Cup and Handle pattern breakout in the recent past and the stock is sustaining above the neckline of the said pattern. Once the stock crosses the neckline of such a pattern, it covers the distance equal to the distance between the neckline and the bottom of the cup, distance being taken from the neckline of the pattern.

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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.

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