Cup and handle breakout witnessed in weekly chart accompanied with good volumes.
YoY quarterly np, op and sales has been increasing at a good rate over the last 3-4 quarters.
1. Waiting for an OTE retrace
2. Possibility of a bullish divergence on the weekly timeframe
1. 1:1:4 scale in between 1149-1187
2. Stop at 1100
3. Target 1410
1. A 2.62:1 RR trade is executed
This is my first technical analysis. based the Zerodha Varsity checklist.
Please comment on any mistakes.
1. Candle - Shooting star formed.
2. Support and Resistance - Price at resistance
3. Volume - Volume above 20 days MA
4. DOW Theory - price within the Trading Range
5. Indicators -