### **Technical Analysis of MADHYA BHARAT AGRO P. LTD (NSE)**
The chart reveals a **cup and handle** patternon wkly , which is a **bullish continuation** signal, suggesting strong upward momentum.
### **Key Observations:**
1. **Cup Formation:**
- The price formed a rounded bottom over an extended period, indicating **accumulation**.
- Depth of the cup: **118.25 points (36.49%)** from **204.49 INR to 323.65 INR**.
2. **Handle Formation:**
- A brief consolidation near **323.65 INR**, forming the handle.
3. **Breakout & Price Action:**
- The breakout above **323.00 INR** is confirmed with rising volume.
- The current price is **339.45 INR**, up **7.27% (23.00 INR)**.
- **Target price:** **441.60 INR**, based on the pattern’s depth.
### **Indicators to Watch:**
- **Volume:** Strong surge in trading volume supports the breakout.
- **RSI:** Above **60**, it confirms bullish momentum.
- **Support Level:** **323 INR** now serves as a key support.
The chart reveals a **cup and handle** patternon wkly , which is a **bullish continuation** signal, suggesting strong upward momentum.
### **Key Observations:**
1. **Cup Formation:**
- The price formed a rounded bottom over an extended period, indicating **accumulation**.
- Depth of the cup: **118.25 points (36.49%)** from **204.49 INR to 323.65 INR**.
2. **Handle Formation:**
- A brief consolidation near **323.65 INR**, forming the handle.
3. **Breakout & Price Action:**
- The breakout above **323.00 INR** is confirmed with rising volume.
- The current price is **339.45 INR**, up **7.27% (23.00 INR)**.
- **Target price:** **441.60 INR**, based on the pattern’s depth.
### **Indicators to Watch:**
- **Volume:** Strong surge in trading volume supports the breakout.
- **RSI:** Above **60**, it confirms bullish momentum.
- **Support Level:** **323 INR** now serves as a key support.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.