Cadila looks strong for long side.
Has formed Cup & Handle Pattern on Weekly chart and also has given handle breakout. Handle is also in the top half of Cup pattern.
Has also broken the horizontal resistance zone of 510-520.
Volume in the downtrend handle is low & current Volume is high.
For Positional Short term, Tgt = 560.
For Positional Long Term, Tgt = 700. (Handle Breakout: 450 & Bottom of Cup: 205, so depth = 245, tgt = 450 + 245 = 695 ~700)
Maintain SL = 400 (Bottom of the handle)
Note: This is just for educational purpose. Trade at your own risk.
Has formed Cup & Handle Pattern on Weekly chart and also has given handle breakout. Handle is also in the top half of Cup pattern.
Has also broken the horizontal resistance zone of 510-520.
Volume in the downtrend handle is low & current Volume is high.
For Positional Short term, Tgt = 560.
For Positional Long Term, Tgt = 700. (Handle Breakout: 450 & Bottom of Cup: 205, so depth = 245, tgt = 450 + 245 = 695 ~700)
Maintain SL = 400 (Bottom of the handle)
Note: This is just for educational purpose. Trade at your own risk.