CUP n HANDLE for 16 sep 2024
Over a period of 7 days , cup n handle pattern formed in NIFTY 50 . A breakout of the same with confirmation signal triggered on 13 sep . For next trading day the basic target for such a pattern has been set with two types of entries , first 1 with more assured and safe transaction while 2 can be a follow through transaction to avoid early exit by holding small quantities :-
1. Nifty Tgt 1 - 25475 ( Major capital)
Entry - 25375 ( with 2 lots )
Stop loss - 25325
2. Nifty Tgt 2 - 25565( Less quantity/ capital)
Entry - 25375 ( with 2 lots )
Stop loss - 25310
Strategy: Sell Nifty Straddle of 24500
1. Nifty Tgt 1 - 25475 ( Major capital)
Entry - 25375 ( with 2 lots )
Stop loss - 25325
2. Nifty Tgt 2 - 25565( Less quantity/ capital)
Entry - 25375 ( with 2 lots )
Stop loss - 25310
Strategy: Sell Nifty Straddle of 24500
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