Shabbir KayyumiThe Cup & Handle pattern is believed to be one of the most reliable & popular patterns among traders community. In technical analysis, a Cup and Handle pattern describes a specific chart formation that projects a bearish-to-bullish trend reversal. A Cup & Handle reversal pattern forms after a downtrend, and its completion marks a trend reversal to the uptrend.In the standard Cup and Handle pattern, we connect the high after Cup with the high created after the handle. A trend line is drawn by connecting these highest points of the two peaks, which is called a Neckline. This trend line is the most important component of C & H pattern.Close Why should you Buy Castrol India?Shabbir KayyumiHead of Technical & Derivative Research|Narnolia Financial Advisors ‘Close above 12,320 favours bulls; prefer PFC, IRB Infra and Equitas Holdings’Cup & Handle pattern in Ujjivan Financial suggest buying opportunityWith momentum likely to continue, bet on these 3 stocks for over 10% returnCastrol India is trading above strong resistance line standing around Rs 140 levels indicating strong bullish bias to continue further. A Recent formation of Cup and Handle pattern has given a breakout by trading above Rs 140 which suggests buying in the… Read full this story
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