ICICIPRULI – IHNS + Cup & Handle Confluence Breakout Setup
DESCRIPTION:
ICICI Prudential has developed a bullish reversal structure with strong pattern confluence.
The chart highlights an Inverse Head & Shoulders pattern:
Left Shoulder and Right Shoulder forming higher lows
A deeper Head marking final seller exhaustion
A down-sloping neckline acting as breakout level
At the same time, the right shoulder forms a Cup & Handle style consolidation, indicating strong absorption of supply.
The rising support trendline continues to protect price, showing demand strengthening with each higher low.
A decisive breakout above the neckline can activate the combined bullish targets, with a measured objective of ~₹47.90 (≈7.6%) as marked on the chart.
Pattern Confluence Advantages:
IHNS → Major trend reversal signal
Cup & Handle → Breakout continuation power
Rising support → Strong buyer presence
Neckline breakout → Momentum confirmation
A successful breakout may trigger an upside move toward the ₹675–690 zone.
ICICI Prudential has developed a bullish reversal structure with strong pattern confluence.
The chart highlights an Inverse Head & Shoulders pattern:
Left Shoulder and Right Shoulder forming higher lows
A deeper Head marking final seller exhaustion
A down-sloping neckline acting as breakout level
At the same time, the right shoulder forms a Cup & Handle style consolidation, indicating strong absorption of supply.
The rising support trendline continues to protect price, showing demand strengthening with each higher low.
A decisive breakout above the neckline can activate the combined bullish targets, with a measured objective of ~₹47.90 (≈7.6%) as marked on the chart.
Pattern Confluence Advantages:
IHNS → Major trend reversal signal
Cup & Handle → Breakout continuation power
Rising support → Strong buyer presence
Neckline breakout → Momentum confirmation
A successful breakout may trigger an upside move toward the ₹675–690 zone.
SiripiVenu
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.
SiripiVenu
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.