just The chart you've shared for Justdial Ltd. (NSE: JUSTDIAL) displays a classic **Cup and Handle** pattern, a bullish continuation pattern that often signals a possible upward breakout. Here’s a detailed analysis
### 1. **Cup Formation ☕**
The stock made a rounded bottom, forming the “cup” part of the pattern.
📉 During this phase, volume gradually decreased, showing limited selling pressure, meaning holders weren’t keen on offloading their positions.
- 📈 As the price hit the bottom, buyers started stepping back in, visible from the slight rise in volume.
### 2. **Handle Formation 🖐️**
After reaching the cup's top, the stock entered a consolidation phase, forming a "handle."
This handle is a brief pullback or minor correction that typically shakes out weaker hands before a potential breakout.
📊 Volume during the handle formation was moderate, showing a controlled selling with no significant panic among investors.
### 3. Breakout & Retest 📈🔄**
After the handle phase, the stock broke out above the resistance level, confirming the cup and handle pattern.
- 🔍 Notice the candle and volume spike during the breakout—this is a positive sign, indicating strong buying interest.
🔄 The stock later returned to retest the breakout level, which acted as new support around ₹1,125.55. This successful retest often reinforces the breakout, providing an entry point for cautious buyers.
### 4. **Volume Analysis 📊**
Volume patterns align with the structure: low during the cup formation, increasing during the breakout, and supportive during the retest.
Consistent volume during a breakout strengthens the pattern’s reliability, showing investor confidence in the upward move.
### 5. **Key Levels to Watch 📍**
**Support**: ₹1,125.55, the breakout level now acting as support.
**Resistance**: Around ₹1,308.85 (current price area), a level that buyers may aim to surpass.
If the price breaks above this resistance with strong volume, it could indicate further upside potential.
### 6. **Outlook 🚀**
The **Cup and Handle** is generally a bullish formation, suggesting further upside is possible if the stock maintains support levels. (no recommendation for the buy and sell)
However, always keep an eye on overall market conditions and set stop-loss orders to manage risk effectively.
This setup reflects positive momentum, with Justdial Ltd. potentially preparing for a continued rally if it breaks through its recent high.
JUSTDIAL
SWING IDEA - JUSTDIALJust Dial , a leading player in the digital search and discovery domain, presents an intriguing opportunity for swing traders seeking to capitalize on emerging market trends.
Reasons are listed below :
Just Dial has repeatedly tested the 880-920 range and is now showing signs of breaking through, indicating potential upward momentum.
The emergence of a bullish marubozu candle on the weekly timeframe signals strong bullish sentiment among traders.
A discernible head and shoulder pattern has formed on the weekly chart, suggesting a potential trend reversal.
Recent market movements accompanied by increased trading volumes add weight to the bullish outlook for Just Dial.
The stock is trading above both the 50-day and 200-day EMAs, indicating positive price action and underlying bullish momentum.
Just Dial's recent price action signifies a breakthrough from a consolidation phase spanning over two years, potentially heralding the onset of a new trend.
Target - 1125 // 1260
StopLoss - weekly close below 848
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Justdial looking good for intraday Just dial broke the uptrend channel and in 15 mins & 5 mins time frame looking good for shorting in intraday. Only if it reacts the resistance 775 and forms a good bearish sign then enter the trade (short) otherwise just neglect the trade. Target would be 751 to 749. Before enter the trade do your own analysis.
LONG opportunity in just dial
Justdial is consolidating on daily timeframe since one month. its breaksout can give approx 12-13%profit within few days or week.
Enter only after it breaks 985 put stop loss of 3.5% (must) and take profit at nearly 1115 or 1120 and wait for the volume to spike up and then u can enter
risk reward in this swing trade is 4:1
NOTE: This is just a trade setup idea dont follow it blindly,do your own analysis and dont forget to manage your risk. YOU ARE MASTER OF YOUR 0WN WEALTH.
Keep Eyes On JUSTDIAL. Little Story of False Breakouts. NSE:JUSTDIAL
Just dial was been in a consolidation phase for a long enough time between the price range of 318-824. On 1st March 2021 weekly chart we did managed to see false breakout to the level of 824, result of which we see down move from there towards 717 and we have seen good reversal confirming support of 717 on 17th May 2021 weekly candle.
After week of 17th May 2021 we did see some good upside momentum in Just Dial till 1047. And once again a good rejection candle on a week 14th June 2021 at the level of 1047 which form a solid wick indicating one more false breakout. But now price did not fall as much as we seen after a false breakout of 1st March 2021, and this indicates less sellers or now participants are not interested to go short in Just Dial. Result of which we see strong bullish candle with good efforts in a last week (05th July 2021).
After kind of painful movement there will be hardly anyone who can keep blind faith in Just Dial or at least no one will expect steady trend in this counter. But as mention previously, its seems there is not enough supply in this counter for now.
Short to long term players can consider this counter for targets of 1286, 1426 and 1627 with SL below 700.
|| Hari Om ||
|| Ambdnya ||
JUST DIAL - Bull Flag (Breakout awaited) - Swing TradeThis analysis is done purely on basis of price action and chart patterns
Analysis is done on Daily TF hence it may take few days to few weeks for price to reach the given target.
Stock is at good consolidation phase and it can be accumulated between CMP and 590 levels.
Trade Strategy as well as SL is given in the image itself.
Target levels are also mentioned in the image itself.
For better clarity on target levels, pls check the second image attached below
This is not a trade recommendation. Do your own study before entering into any trade.
Trade with your own risk & money management.
Feel Free to comment for any query or suggestion.
JUSTDAIL - Trade plan Looking at past two days trend from Justdail recovery, currently at trendline.
Incase if breaks trendline or reversal from trendline - we do have possible two trade opportunities.
Incase if goes above 400 - > we can expect targets in the range of 404/409/414/419
If breaks trend line of 395 - > we can expect targets in the range of 391/386/381/376