30 Day assignment – Day 13B Module – Spot Cup Pattern

Yogi Ramachandran

5 years ago

The cup pattern formed gradually over a period of 9 months indicating that a long position can be created at break out of the handle.
The cup shape is clearly visible as can be seen in the image.
Volume is low at the rounded bottom.
Long position created when the cup filled up at Rs. 117.
Stop Loss created at the lowest part of the handle at Rs. 97.
Target at risk to reward ratio of 1:1 is Rs. 137.