STOCK :PARAG MILK FOODS LTD.
CMP : 118.90 (23/06/2022)
ABOUT : Parag Milk Foods Limited is an Indian dairy company that specializes in the production and marketing of dairy-based products. The company was established in 1992 and is headquartered in Pune, Maharashtra, India.
TECHNICAL ANALYSIS CANDLE STICK CHART VIEW (DAILY TIME FRAME)
(CLICK ON ABOVE IMAGE FOR CELAR CHART VIEW)
OBSERVATION :
The stock shows a clear CUP & HANDLE pattern with breakout showing a good upside rally after getting re-test, however there is an RESISTANCE ZONE near to (128-131 levels). If this level is gets broken further we may see (20-25%) upside momentum.
How CUP & HANDLE PATTERNS works ? ( click here)
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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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