Current Price and Recent Movement:
As of the latest data, CHALET HOTEL is trading around ₹918 - ₹919.
The stock has seen some positive movement recently, with a notable increase on May 13th, following the announcement of strong Q4FY25 results.
Analyzing Your Cup and Handle Observation:
Key Considerations and Points to Watch:
Breakout Confirmation:
Handle Characteristics:
Depth: Ideally, the handle should form in the upper half of the cup and shouldn't be too deep (typically not extending below the mid-point of the cup).
Duration: The handle should be shorter in duration than the cup.
Cup Depth: The projected target of a Cup and Handle is often estimated by measuring the depth of the cup and adding it to the breakout level. If the cup's low was around ₹700 and the handle's resistance broke around ₹900, the depth would be ₹200, projecting a target of ₹1100 (₹900 + ₹200).
Market Context and Fundamentals:
The recent positive price action was fueled by strong Q4FY25 results. Continued positive news or favorable conditions in the hospitality sector could support the upward momentum.
Keep an eye on analyst ratings and target prices for Chalet Hotels. Recent reports have shown "Buy" recommendations with target prices around ₹1000-₹1017.
Risk Management: Always have a stop-loss in place. For a Cup and Handle, a common placement is below the low of the handle.
In conclusion, observation of a Cup and Handle pattern with a breakout on CHALET HOTEL aligns with a potentially bullish scenario. The target of ₹1150 is within a reasonable range based on the pattern's implications and recent positive developments. However, it's crucial to continuously monitor the breakout's confirmation with volume and ensure the price sustains above the breakout level. Keep an eye on overall market conditions and the company's fundamentals to gauge the likelihood of reaching your target.
As of the latest data, CHALET HOTEL is trading around ₹918 - ₹919.
The stock has seen some positive movement recently, with a notable increase on May 13th, following the announcement of strong Q4FY25 results.
Analyzing Your Cup and Handle Observation:
- Pattern Formation (January to Now): Multi-month consolidation, which can lend more significance to the pattern if it's well-formed.
- Breakout: You stated a breakout has occurred. To validate this, it would be helpful to identify the precise resistance level of the handle that was broken.
- Target of ₹1150 (250 Points): If the breakout happened in the ₹900-₹920 range, a target of ₹1150 would indeed represent a move of approximately 230-250 points.
Key Considerations and Points to Watch:
Breakout Confirmation:
- Volume: Was the breakout accompanied by a significant increase in trading volume compared to the average? Strong volume supports the validity of the breakout.
- Sustainability: Has the price held above the breakout level since it occurred? A failure to hold could indicate a false breakout.
Handle Characteristics:
Depth: Ideally, the handle should form in the upper half of the cup and shouldn't be too deep (typically not extending below the mid-point of the cup).
Duration: The handle should be shorter in duration than the cup.
Cup Depth: The projected target of a Cup and Handle is often estimated by measuring the depth of the cup and adding it to the breakout level. If the cup's low was around ₹700 and the handle's resistance broke around ₹900, the depth would be ₹200, projecting a target of ₹1100 (₹900 + ₹200).
Market Context and Fundamentals:
The recent positive price action was fueled by strong Q4FY25 results. Continued positive news or favorable conditions in the hospitality sector could support the upward momentum.
Keep an eye on analyst ratings and target prices for Chalet Hotels. Recent reports have shown "Buy" recommendations with target prices around ₹1000-₹1017.
Risk Management: Always have a stop-loss in place. For a Cup and Handle, a common placement is below the low of the handle.
In conclusion, observation of a Cup and Handle pattern with a breakout on CHALET HOTEL aligns with a potentially bullish scenario. The target of ₹1150 is within a reasonable range based on the pattern's implications and recent positive developments. However, it's crucial to continuously monitor the breakout's confirmation with volume and ensure the price sustains above the breakout level. Keep an eye on overall market conditions and the company's fundamentals to gauge the likelihood of reaching your target.
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.