This chart of NETWEB TECH INDIA LTD (NSE: NETWEB) highlights a notable Cup and Handle pattern formation observed on the daily timeframe. The stock has just broken out above resistance with strong momentum (+9.96%).
• Key Levels:
• Support at 2,091.10 INR
• Immediate resistance/supply zone at 2,293.05–2,580.95 INR
• Target projected around 2,580.95 INR
• Technical Insights:
• Cup and Handle breakout with above-average volume
• Fibonacci retracement and extension levels marked for confirmation
• Potential for bullish continuation if breakout sustains
• Monitor for price action near the supply zone and watch for profit-booking signals
This setup provides a positive risk-reward for swing traders, but always ensure to manage risks and confirm with additional indicators.
• Key Levels:
• Support at 2,091.10 INR
• Immediate resistance/supply zone at 2,293.05–2,580.95 INR
• Target projected around 2,580.95 INR
• Technical Insights:
• Cup and Handle breakout with above-average volume
• Fibonacci retracement and extension levels marked for confirmation
• Potential for bullish continuation if breakout sustains
• Monitor for price action near the supply zone and watch for profit-booking signals
This setup provides a positive risk-reward for swing traders, but always ensure to manage risks and confirm with additional indicators.
Operación activa
• The stock is trading strongly at 2,298.50, showing bullish momentum with a sharp rise and high volume.• Key resistance levels are at 2,293, 2,580.95, and the marked supply zone between these levels. This is where profit booking or selling pressure might increase.
• Immediate support for any pullback is at 2,091.10.
• The pattern resembles a bullish cup-and-handle breakout, and if current levels hold, the swing target sits around 2,580.95.
• Trend and momentum indicators point to continued strength, but caution is advised near resistance zones and with proper stop-loss placement below 2,091.10.
Operación cerrada: objetivo alcanzado
About to hit tgt
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.