CUP Pattern – BHEL – Bullish

[Balaji]

BHEL Cup pattern:

Trade Plan is written in attached chart image

Note: Target achieved in one month.

Reasons for qualifying Cup pattern:

1. Duration for formation is 3 months
2. Low volume during the Cup bottom formation
3. The correlation coefficient between the NIFTY market to the BHEL stock is low (less than 0.50) during the mid of the pattern

[Bagya]

Sir

Just a suggestion when observing your cup pattern, I felt the CUP could have been more strongly emphasized if you have chosen a Line chart instead of a Candle Stick.  Please correct me if my opinion is wrong.

[EQSIS]

The Chart type is for our convenience,,, at early stage we might use line chart and as you become experienced, you will be comfortable with Candle stick chart pattern

The above Cup Pattern is really interesting as he used correlation factor.. But the time is two short at the rounding bottom phase

I appreciate this type of discussion, this will bring lot of clarity among us.. keep doing….

[Balaji]

Dear Bagya Madam,

Thanks for viewing my analysis. I am accepting your suggestion, I will also use line chart for ease of understanding.

[Author]

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