PREMEXPLN Analysis:
This chart showcases a classic "Cup and Handle" breakout pattern — a powerful bullish reversal setup. After a prolonged downtrend, the stock formed a rounded base, retested the neckline zone near ₹500, and broke out with strong momentum and volume.
Trendline Breakout: A long-term descending trendline has been broken, signaling a trend reversal.
Cup Formation: A smooth, rounded bottom formed over several months indicates accumulation and base-building.
Breakout Confirmation: A sharp breakout above the neckline resistance (around ₹500–₹510) with volume confirms the breakout.
Target Levels: Price has already moved toward ₹606 and is now approaching ₹678 — the measured move target from the depth of the cup.
Trade Setup:
Entry: Ideal entry was near breakout of ₹510.
Targets: ₹606 (hit), ₹678 (approaching).
Stop-loss: Below ₹500 or trailing below recent swing lows for momentum trades.
Outlook:
The chart signals a strong reversal and momentum continuation. If ₹678 is broken, further upside potential opens up.
HAPPY TRADING !!
Trade attivo
Trade activeTrade chiuso: obiettivo raggiunto
Target 1 reached stock is up by 15% in a single day Nota
you can continue hold for further targets, just trail your stolploss above cost i will suggest to put your sl at 525
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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.