STOCK : CONFIDENCE PETROLEUM INDIA LTD.
CMP : 74.00 (26/06/2023)
ABOUT : Confidence Petroleum India Limited is an Indian company engaged in the business of Liquefied Petroleum Gas (LPG) cylinders, valves, regulators and allied products. The company is primarily involved in manufacturing, marketing and distribution of LPG cylinders and related equipment.
TECHNICAL ANALYSIS CANDLE STICK CHART VIEW (4HRS TIME FRAME )
(CLICK ON ABOVE IMAGE FOR CLEAR CHART VIEW )
OBSERVATION :
stock has formed CUP AND HANDLE pattern on a 4hrs time frame, once the stock gets break out of its pattern further we may see UP side rally coming days. Above 75 expecting stock to show (15-20%) upside momentum. good to add this stock in your portfolio for swing trading(2-3weeks).
How does CUP AND HANDLE pattern works? (click here)
You may add this stock to your watchlist to understand further price action.
Note : It's important to note that the is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation to buy or sell. Please consult your financial advisor before taking any financial decision.
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