lets start the ball rolling with one of the companies under over coverage namely techno electric engg ltd.
The stock has formed a very nice cup and handle pattern on the daily line chart attached. breakout has already occured above 185-186 levels and stock should now see good momentum.
Also have a look at the monthly charts showing a clear parallel channel. Stock price is currently at the lower end of the channel.
ATTACHED MONTHLY CHART SHOWING THE EARLIER MENTIONED PARALLEL CHANNEL.
there is not much rocket science involved in such simple patterns. just draw the parallel channels where it is applicable and try to find out why one should buy at the lower end of channel.
techno electric gave a sharp high volume upmove today. it posted a high of 213 and closed around 197. in short term 210-213 levels should act as a resistance which if cleared would pave the way for further upsides.
cup (of cup and handle pattern) seems to be filling with bullishness now. lets see how the stock price behaves.
