The cup pattern of accumulation is observed in SAIL INDIA ltd. during a span of three years, from 2015-2018. The pattern is identified as it satisfies the following conditions. 1)The cup shaped pattern is visible,
2) It took more than 3-years to form,
3)And during that time many fluctuations occured in the market ,yet the company is unwavering in movement. Therefore correlation to market fluctuations is low.
4) And a lack lustre volume is seen in the bottom of the cup.
From these conditions it is now safe to assume this as a cup pattern. and long position can be undertaken as indicated in the chart.
P.S.-The cup pattern is a very stable yet definite to rise so long-term investors are lured in to investing in this company. I think the cup patterns are formed only in well-established companies like the present company-SAIL.India.