@niftyoption
technical analysis is not an exact science , its an art , so there is possibility of this pattern being very valid cup and handle and there is possibility of it being not a cup and handle pattern at all ,as you have mentioned that cup is deep.
however what i surely can say that no matter what..... this pattern will still decide the fate of Indian stock markets because we are in a long term bull market , there is no doubt about that , so whenever this formation will breakout on the upside , the targets will be decided on this pattern for sure , either on basis of a cup and handle pattern target basis, or Fibonacci basis or whatever basis so because its a huge pattern on monthly charts it doesnt matter whether its a valid pattern or not what matters is that long term trend is up and this pattern will make way for the targets in long term
cheers
technical analysis is not an exact science , its an art , so there is possibility of this pattern being very valid cup and handle and there is possibility of it being not a cup and handle pattern at all ,as you have mentioned that cup is deep.
however what i surely can say that no matter what..... this pattern will still decide the fate of Indian stock markets because we are in a long term bull market , there is no doubt about that , so whenever this formation will breakout on the upside , the targets will be decided on this pattern for sure , either on basis of a cup and handle pattern target basis, or Fibonacci basis or whatever basis so because its a huge pattern on monthly charts it doesnt matter whether its a valid pattern or not what matters is that long term trend is up and this pattern will make way for the targets in long term
cheers