Stock name: Vedant Fashions Ltd.
Pattern: Cup and handle pattern
Time frame: Daily
Observation:
The stock began declining in December 2023 but stabilized by March 2024, forming a cup and handle pattern on its daily chart. On June 7, 2024, it broke out of this pattern, confirmed by a bullish MACD indicator. Following the breakout, the stock has been trending upwards. Technical analysis suggests that if this momentum persists, the stock might see further upward movement.
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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
Stock name: Sunteck Realty Ltd.
Pattern: Cup and handle pattern
Time frame: Weekly
Observation:
The stock has been trading sideways but formed a cup and handle pattern on its weekly chart between July 2022 and June 2024. It broke out of this pattern in June 2024, supported by above-average trading volume and a positive MACD signal. The RSI levels are currently favourable. Technical analysis indicates that if the stock maintains its breakout momentum, it may continue to rise further.
You may add this to your watch list to understand further price action.
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
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