Will this be the final low for zomato after which it goes to complete the triangle formation?
The breakout may happen between 24 Jan 23 -23 Feb 23 ... In previous 2 occassions, when the price closed below the bollinger band it went upwards to touch the resistance level of upper band... (this pattern can become an INHS or a VCP, all subject to interpretation)
Target of 112 to be achieved by 25 May 23 Stoploss 53.20
Thanks bro. So do you think it will break upside now. Its now in the end of the handle of the cup.
Rocky_Chow
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@renjith31787, Hi Bro... look it could be a triangle, cup & handle like you think or an Inverse Head & SHoulder in formation, stop loss is at 53 as I am rooting for a Higher Low here, whatever the pattern it may take..but if it breaks 53.20 convincingly then one needs to relook here