FinolexCable Cup and handle formation breakout
Updated
NSE:FINCABLES
As seen on the chart, Finolex Cables have formed a nice U-shaped Cup and the handle is also not very deep.
Also, the volume was low when it was forming the handle and the breakout was with a significantly higher volume for the handle.
There is a high probability that this pattern will be successful.
Disc - invested, for educational purposes only.
Trade closed: target reached
Nifty has made a bearish move today. Moving into cash for now.
Disclaimer
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.