This chart **Piccadily Agro Industries Ltd.** (PICCADIL) on the **BSE**.
Here are the key technical observations:
1. **Pattern:**
- An **cup-and-handle pattern** is identified, which is typically a bullish continuation setup.
- The price has confirmed a breakout above the handle's resistance.
2. Consolidation Breakout:
-The price has successfully broken out of the 900 resistance with strong bullish momentum.
-The breakout represents the end of the multi-month consolidation phase since April 2024,
confirming a significant bullish bias.
- The breakout has occurred on high volume, confirming buying interest and enhancing the
reliability of the pattern.
3. Measured Target:
The expected upward move is calculated based on the depth of the cup:
Height of the cup ≈ 165 points.
Target post-breakout = Breakout level (786.15) + Depth of the cup (165) = ~951.15.
This aligns with the chart showing a potential 20.96% upside.
4. **Key Levels:**
Support Levels:
786.15: Now a key support after the breakout.
620.65: Strong base support for the pattern.
Resistance Levels:
904.60: Immediate resistance, just below the target zone.
951.15–960.00: Projected target based on the measured move.
5. **Volume Analysis:**
- Sustained increases in volume around the breakout region suggest institutional buying.
Here are the key technical observations:
1. **Pattern:**
- An **cup-and-handle pattern** is identified, which is typically a bullish continuation setup.
- The price has confirmed a breakout above the handle's resistance.
2. Consolidation Breakout:
-The price has successfully broken out of the 900 resistance with strong bullish momentum.
-The breakout represents the end of the multi-month consolidation phase since April 2024,
confirming a significant bullish bias.
- The breakout has occurred on high volume, confirming buying interest and enhancing the
reliability of the pattern.
3. Measured Target:
The expected upward move is calculated based on the depth of the cup:
Height of the cup ≈ 165 points.
Target post-breakout = Breakout level (786.15) + Depth of the cup (165) = ~951.15.
This aligns with the chart showing a potential 20.96% upside.
4. **Key Levels:**
Support Levels:
786.15: Now a key support after the breakout.
620.65: Strong base support for the pattern.
Resistance Levels:
904.60: Immediate resistance, just below the target zone.
951.15–960.00: Projected target based on the measured move.
5. **Volume Analysis:**
- Sustained increases in volume around the breakout region suggest institutional buying.
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.