Checked for below conditions to confirm cup pattern:

  1. Took more than 3 months to form cup pattern

  2. Lackluster volume is observed

  3. Rounding bottom

Trade plan:

Major Support: 134

Resistance   : 296

Entry point  : go long above 296

Stop loss    : 134

Target       : 458

0

1 Comment
  1. Naresh 3 years ago

    Hi sir,
    Good try…… Volume is a key indicator for identifying and validating the cup pattern, dropping off as the pattern reaches the bottom and volume should be low during the consolidation period (rounding bottom), then increasing the volume as the new uptrend is established. And the minimum duration for Cup pattern is 1-1.5 years.

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