Technical View: PRIMESECU (Prime Securities Ltd.)
Pattern Formation:
• The chart shows a Cup and Handle formation — a strong bullish continuation pattern indicating accumulation before an upside breakout.
• The neckline is placed around the ₹320 level, which acts as a key resistance zone.
Breakout Confirmation:
• The price is attempting to break above the neckline (₹320).
• A daily close above ₹320 with strong volume will confirm the breakout, signaling the start of a potential strong upward move.
Moving Average Setup:
• The stock is trading above the 9-day EMA, indicating short-term strength.
• EMA trend is upward sloping, confirming positive momentum.
Target and Stop-loss (Post-Breakout Scenario):
• Target 1: ₹360
• Target 2: ₹400
• Stop-loss: ₹290 (below handle support zone)
Conclusion:
The stock is showing a classic Cup and Handle breakout setup. A decisive close above ₹320, supported by volume, can lead to a strong upside rally in the coming sessions. Traders should watch for volume confirmation before entering.
Disclaimer: This analysis is for educational purposes only, not a buy/sell recommendation.
#CupAndHandle #StockBreakout #PrimeSecurities
Pattern Formation:
• The chart shows a Cup and Handle formation — a strong bullish continuation pattern indicating accumulation before an upside breakout.
• The neckline is placed around the ₹320 level, which acts as a key resistance zone.
Breakout Confirmation:
• The price is attempting to break above the neckline (₹320).
• A daily close above ₹320 with strong volume will confirm the breakout, signaling the start of a potential strong upward move.
Moving Average Setup:
• The stock is trading above the 9-day EMA, indicating short-term strength.
• EMA trend is upward sloping, confirming positive momentum.
Target and Stop-loss (Post-Breakout Scenario):
• Target 1: ₹360
• Target 2: ₹400
• Stop-loss: ₹290 (below handle support zone)
Conclusion:
The stock is showing a classic Cup and Handle breakout setup. A decisive close above ₹320, supported by volume, can lead to a strong upside rally in the coming sessions. Traders should watch for volume confirmation before entering.
Disclaimer: This analysis is for educational purposes only, not a buy/sell recommendation.
#CupAndHandle #StockBreakout #PrimeSecurities
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.
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.