PREMIER EXPLOSIVES LTD (PREMEXPLN) daily chart.
**cup and handle** pattern, suggesting potential bullish continuation.
Here's a simple breakdown:
* **Cup:** The rounded bottom formation appears to have taken place between roughly early January and late April 2025. This indicates a period of consolidation after a decline.
* **Handle (Potential):** After reaching a high around ₹480, the price has pulled back and is now showing signs of consolidating again in a smaller range (the potential handle) in early May 2025.
* **Breakout Level:** The horizontal line you've drawn around ₹480 acts as the potential neckline or resistance. A decisive break above this level would provide further confirmation of the pattern.
* **Target:** You've marked a potential target around ₹652.50. This target is typically estimated by measuring the depth of the cup and adding it to the breakout level.
**Things to watch out for:**
* **Handle Formation:** Observe if the current consolidation indeed forms a handle—a smaller, ideally slightly downward-sloping or sideways movement.
* **Breakout :** We need to see if it retests 480 and bounce it is a strong buy.
* **Volume on Breakout:** Increased volume on the breakout it is strength to the bullish signal.
**cup and handle** pattern, suggesting potential bullish continuation.
Here's a simple breakdown:
* **Cup:** The rounded bottom formation appears to have taken place between roughly early January and late April 2025. This indicates a period of consolidation after a decline.
* **Handle (Potential):** After reaching a high around ₹480, the price has pulled back and is now showing signs of consolidating again in a smaller range (the potential handle) in early May 2025.
* **Breakout Level:** The horizontal line you've drawn around ₹480 acts as the potential neckline or resistance. A decisive break above this level would provide further confirmation of the pattern.
* **Target:** You've marked a potential target around ₹652.50. This target is typically estimated by measuring the depth of the cup and adding it to the breakout level.
**Things to watch out for:**
* **Handle Formation:** Observe if the current consolidation indeed forms a handle—a smaller, ideally slightly downward-sloping or sideways movement.
* **Breakout :** We need to see if it retests 480 and bounce it is a strong buy.
* **Volume on Breakout:** Increased volume on the breakout it is strength to the bullish signal.
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.