Classic Cup & Handle pattern is forming on the monthly chart of Nifty Small Cap Index, signaling potential for a strong bullish continuation if key resistance levels are cleared.
🔹 CMP: 18,102
🔹 Pattern: Cup & Handle (MTF)
🔹 Resistance Zones: 18505 - 18603 / 19075 - 19307 / 19716 (ATH)
🔹 Support Zones: 17601 - 17561 and Handle bottom 17209
🔹 Pattern Target: 24200 (+33% from CMP)
🔹 Pattern Invalidation Level: 17209 MCB
Watch for a strong breakout above the neckline. Monthly close above this level could trigger a fresh rally into uncharted territory.
#CNXSMALLCAP | #SmallCap | #SmallCapIndex | #CupAndHandle | #ChartPattern | #PriceAction | #BullishContinuation
📌 Disclaimer: This analysis is shared for educational purposes only. It is not a buy/sell recommendation. Please do your own research before making any trading decisions.
🔹 CMP: 18,102
🔹 Pattern: Cup & Handle (MTF)
🔹 Resistance Zones: 18505 - 18603 / 19075 - 19307 / 19716 (ATH)
🔹 Support Zones: 17601 - 17561 and Handle bottom 17209
🔹 Pattern Target: 24200 (+33% from CMP)
🔹 Pattern Invalidation Level: 17209 MCB
Watch for a strong breakout above the neckline. Monthly close above this level could trigger a fresh rally into uncharted territory.
#CNXSMALLCAP | #SmallCap | #SmallCapIndex | #CupAndHandle | #ChartPattern | #PriceAction | #BullishContinuation
📌 Disclaimer: This analysis is shared for educational purposes only. It is not a buy/sell recommendation. Please do your own research before making any trading decisions.
Penafian
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Penafian
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.