Cup With Handle

Cup with Handle pattern


Nifty looks like on verge of giving a major breakout ....I had explained all the possibilities in May itself when cup was formed on Nifty and also On CNXIT .....So wont go in pattern details again

Few points to notice :

1) CNXIT have already achieved 80 % of trgt price within 3 months which is 30 % of time frame and still goin on

2) Nifty looks like broken the flag pattern but have sustain convincingly (may be 2-3 weeks) above the support line which come around 4800 odd lvl

3) Target as explained on chart is around 6200 to 6700 in 6-9 months time frame

...... This looks impossible scenario for imagination so I posted CNXIT chart for confirmation and reliability of pattern


SO HOPE FOR NIFTY TO SUSTAIN ABOVE 4800 ....BEST OF LUCK