PREMIER EXPLOSIVES LTD (PREMEXPLN) daily chart.
**cup and handle** pattern, suggesting potential bullish continuation.
Here's a simple breakdown:
* **Cup:** The rounded bottom formation appears to have taken place between roughly early January and late April 2025. This indicates a period of consolidation after a decline.
* **Handle (Potential):** After reaching a high around ₹480, the price has pulled back and is now showing signs of consolidating again in a smaller range (the potential handle) in early May 2025.
* **Breakout Level:** The horizontal line you've drawn around ₹480 acts as the potential neckline or resistance. A decisive break above this level would provide further confirmation of the pattern.
* **Target:** You've marked a potential target around ₹652.50. This target is typically estimated by measuring the depth of the cup and adding it to the breakout level.
**Things to watch out for:**
* **Handle Formation:** Observe if the current consolidation indeed forms a handle—a smaller, ideally slightly downward-sloping or sideways movement.
* **Breakout :** We need to see if it retests 480 and bounce it is a strong buy.
* **Volume on Breakout:** Increased volume on the breakout it is strength to the bullish signal.
**cup and handle** pattern, suggesting potential bullish continuation.
Here's a simple breakdown:
* **Cup:** The rounded bottom formation appears to have taken place between roughly early January and late April 2025. This indicates a period of consolidation after a decline.
* **Handle (Potential):** After reaching a high around ₹480, the price has pulled back and is now showing signs of consolidating again in a smaller range (the potential handle) in early May 2025.
* **Breakout Level:** The horizontal line you've drawn around ₹480 acts as the potential neckline or resistance. A decisive break above this level would provide further confirmation of the pattern.
* **Target:** You've marked a potential target around ₹652.50. This target is typically estimated by measuring the depth of the cup and adding it to the breakout level.
**Things to watch out for:**
* **Handle Formation:** Observe if the current consolidation indeed forms a handle—a smaller, ideally slightly downward-sloping or sideways movement.
* **Breakout :** We need to see if it retests 480 and bounce it is a strong buy.
* **Volume on Breakout:** Increased volume on the breakout it is strength to the bullish signal.
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.