UNION BANK OF INDIA INVERTED CUP

[C.S.Suresh]

INVERTED CUP WITH HANDLE

ENTRY AT 165.70

STOP LOSS 162.70

TARGET 172.70

STOCK MOVED DOWN 28 RS AND CAN RETRACE AROUND 35% IN INVERTED CUP PATTERN

RSI ALSO IS AROUND 42 INDICATING THAT THE STOCK HAS RETRACTED FROM OVERSOLD ZONE

 

 

 

[EQSIS]

Sir, inverted cup is not as powerful like regular cup pattern, because distribution takes shorter span of time,

[C.S.Suresh]

Murugan, generally when such a pattern is formed does it follow the behaviour of regular cup pattern or it may not be so. In this case, will be there be a trend reversal at this point of time

[Mahesh]

As it is only for a two month duration, I’m not sure whether it’ll pass as an inverted cup pattern. Let me know if I’m wrong to assume so.

[Author]

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