CUP Pattern – SBIN – Bullish

[Balaji]

SBIN Cup pattern:

Trade Plan is written in attached chart image

Note: Target achieved in one month (Nov’14)

Reasons for qualifying Cup pattern:

1. Duration for formation is 3 months (July 2014 to Sep 2014)
2. Low Volume during the Cup bottom formation
3. The correlation coefficient between the NIFTY market to the SBIN stock is low (less than 0.40) during the mid of the pattern

[Author]

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