Cup and Handle Pattern
The cup and handle pattern is a bullish technical pattern that is formed when the price of a security trends upwards to form a cup-shaped formation, followed by a pullback to form a handle-shaped formation. The handle is typically formed at a lower price level than the cup, and it should not break below the low of the cup. Once the handle is formed, the price should break out above the high of the cup to confirm the pattern.
Marksans Pharma Ltd. Daily Timeframe
On the daily timeframe, MARKSANS Pharma Ltd. has formed a cup and handle pattern with the following key features:
The cup was formed between June 2021 and Aug 2023, with a high of INR 121 and a low of INR 41.
Marksans Pharma Ltd. Hourly Timeframe
On the hourly timeframe, MARKSANS Pharma Ltd. has also formed a cup and handle pattern with the following key features:
The handle was formed between Aug and Sep 2023, with a high of INR 120 and a low of INR 100.
The price went through consolidation inside the handle and broke out resistance of the handle on October 12, 2023, confirming the pattern.
Bullish Implications
The cup and handle pattern is a bullish technical pattern that suggests that the price of a security is likely to continue to trend upwards after the pattern is confirmed. The breakout above the high of the cup confirms that buyers are in control and that the price is likely to move higher.
In the case of MARKSANS Pharma Ltd., the cup and handle pattern on both the daily and hourly timeframes suggests that the price is likely to continue to trend upwards in the coming weeks and months.
Conclusion
The cup and handle pattern is a bullish technical pattern that suggests that the price of a security is likely to continue to trend upwards after the pattern is confirmed. MARKSANS Pharma Ltd. has formed a cup and handle pattern on both the daily and hourly timeframes, which suggests that the price is likely to continue to trend upwards in the coming weeks and months.
Disclaimer: This is not financial advice. Please do your own research before making any investment decisions.
The cup and handle pattern is a bullish technical pattern that is formed when the price of a security trends upwards to form a cup-shaped formation, followed by a pullback to form a handle-shaped formation. The handle is typically formed at a lower price level than the cup, and it should not break below the low of the cup. Once the handle is formed, the price should break out above the high of the cup to confirm the pattern.
Marksans Pharma Ltd. Daily Timeframe
On the daily timeframe, MARKSANS Pharma Ltd. has formed a cup and handle pattern with the following key features:
The cup was formed between June 2021 and Aug 2023, with a high of INR 121 and a low of INR 41.
Marksans Pharma Ltd. Hourly Timeframe
On the hourly timeframe, MARKSANS Pharma Ltd. has also formed a cup and handle pattern with the following key features:
The handle was formed between Aug and Sep 2023, with a high of INR 120 and a low of INR 100.
The price went through consolidation inside the handle and broke out resistance of the handle on October 12, 2023, confirming the pattern.
Bullish Implications
The cup and handle pattern is a bullish technical pattern that suggests that the price of a security is likely to continue to trend upwards after the pattern is confirmed. The breakout above the high of the cup confirms that buyers are in control and that the price is likely to move higher.
In the case of MARKSANS Pharma Ltd., the cup and handle pattern on both the daily and hourly timeframes suggests that the price is likely to continue to trend upwards in the coming weeks and months.
Conclusion
The cup and handle pattern is a bullish technical pattern that suggests that the price of a security is likely to continue to trend upwards after the pattern is confirmed. MARKSANS Pharma Ltd. has formed a cup and handle pattern on both the daily and hourly timeframes, which suggests that the price is likely to continue to trend upwards in the coming weeks and months.
Disclaimer: This is not financial advice. Please do your own research before making any investment decisions.