### 🏺 **Pattern Overview:**
✅ **Cup and Handle Formation:**
* **Cup period:** November 2024 – June 2025.
* **Handle period:** Short, forming in May 2025 – breakout seen recently.
✅ **Breakout Confirmation:**
* **Breakout point:** ₹325.50 (previous resistance).
* **Current breakout price:** ₹333.85 with strong momentum.
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### 🎯 **Target Levels:**
* **Measured move target:** ₹415.80 (as marked).
* **Near-term resistance:** ₹376 (prior swing high).
* **Support:** ₹325– (previous breakout level).
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### 📊 **Volume & RSI Insights:**
* **Volume:** Surge on breakout day – confirms buyer interest.
* **RSI:** Clear bullish breakout above a downward-sloping trendline (marked in yellow arrow).
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### 💡 **Takeaway:**
BPCL has **confirmed a cup and handle breakout** above ₹325. If it sustains above this level, a move towards ₹376–₹415+ is probable in the coming weeks.
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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.
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.