Dredging Corporation of India appears to be forming a large Cup and Handle pattern on the daily chart, with price now approaching the key neckline resistance near 1245. The recent pullback toward 1036 has developed as the handle portion of the pattern, and the strong recovery from that region suggests buyers are gradually regaining control.
A decisive breakout above the neckline could confirm the bullish continuation setup and open the door for a measured move toward the 1445 region. Until then, price remains in the final stages of consolidation, with the overall structure favoring higher levels as long as the handle support continues to hold.
We will update further information soon.
A decisive breakout above the neckline could confirm the bullish continuation setup and open the door for a measured move toward the 1445 region. Until then, price remains in the final stages of consolidation, with the overall structure favoring higher levels as long as the handle support continues to hold.
We will update further information soon.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.