ZENSARTECH: Brewing Success in a Cup and Handle Formation
ZENSARTECH (CMP: 617.35) presents a compelling opportunity with the formation of a classic cup and handle pattern. This bullish technical setup suggests a potential upward trend reversal, making it an exciting prospect for traders and investors.
Key Points:
Cup and Handle Formation:
The stock has traced a cup-like pattern, indicating a period of consolidation and accumulation, followed by a smaller pullback forming the handle. This pattern often precedes a significant upward move.
Current Market Price (CMP):
The current market price at 617.35 positions us at the potential breakout point, providing an advantageous entry for those looking to ride the anticipated bullish momentum.
Stop Loss at 455:
To manage risk, a prudent stop-loss level has been set at 455. This level is strategically chosen to allow for a reasonable buffer while protecting against unexpected downturns.
Target at 1365:
The target of 1365 aligns with the projected upward move based on the cup and handle pattern. This ambitious but realistic target takes into account the depth of the cup and offers an attractive risk-reward ratio.
Important Note:
I am not a SEBI registered advisor. Trading involves risk, and it's crucial to stay updated on market conditions and adapt your strategy accordingly. This idea is based on technical analysis, and it's recommended to conduct thorough research and, if possible, consult with financial professionals before making any trading decisions.
Key Points:
Cup and Handle Formation:
The stock has traced a cup-like pattern, indicating a period of consolidation and accumulation, followed by a smaller pullback forming the handle. This pattern often precedes a significant upward move.
Current Market Price (CMP):
The current market price at 617.35 positions us at the potential breakout point, providing an advantageous entry for those looking to ride the anticipated bullish momentum.
Stop Loss at 455:
To manage risk, a prudent stop-loss level has been set at 455. This level is strategically chosen to allow for a reasonable buffer while protecting against unexpected downturns.
Target at 1365:
The target of 1365 aligns with the projected upward move based on the cup and handle pattern. This ambitious but realistic target takes into account the depth of the cup and offers an attractive risk-reward ratio.
Important Note:
I am not a SEBI registered advisor. Trading involves risk, and it's crucial to stay updated on market conditions and adapt your strategy accordingly. This idea is based on technical analysis, and it's recommended to conduct thorough research and, if possible, consult with financial professionals before making any trading decisions.
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.