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Is it a buy signal for Idea Cellular (Cup and Handle pattern)?

Discussion in 'Technical Analysis' started by sourav_saha, Aug 14, 2014.

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  1. sourav_saha

    sourav_saha New Member

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    Hi,

    From 7 months perspective it looks "Cup and Handle" pattern in the chart. Is it a buy signal, please advise.

    Regards,
    Sourav Saha
     

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    Last edited: Aug 14, 2014
    sourav_saha, Aug 14, 2014
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  2. shabbir

    shabbir Administrator Staff Member

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    No. How you are seeing as cup and handle. Is pattern in the month of Aug?
     
    shabbir, Aug 14, 2014
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  3. sourav_saha

    sourav_saha New Member

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    No. It's from 14-01-2014 to 14-08-2014.
     
    sourav_saha, Aug 14, 2014
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  4. shabbir

    shabbir Administrator Staff Member

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    That's a long one and not ideally a cup but a base at around 130ish with a resistance around 150 and so if the stock can keep above 150 in the next few sessions, can get long into it in the leg up after touching 150.
     
    shabbir, Aug 15, 2014
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