Stock name: Radico Khaitan Ltd.
Pattern: Cup and handle pattern
Time frame: Daily
Observation:
The stock has shown a consistent upward trend. Between June and August 2024, it formed a cup and handle pattern on the daily chart, breaking out on August 30, 2024. Since the breakout, the stock has held its level. If this momentum continues, the stock may see further upward movement according to technical analysis. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.
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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: JM Financial Ltd.
Pattern: Cup and handle pattern
Time frame: Daily
Observation:
The stock has been trending upward since March 2023. From January to August 2024, it stabilized and formed a cup and handle pattern on its daily chart. A breakout occurred on August 29, 2024, accompanied by significant volume. The stock has since continued its upward movement with strong volume. If the momentum persists, then as per technical analysis the stock may move further upwards. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.
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.
