Cup Formation:
The left side shows a clear decline followed by a rounded bottom and a steady recovery forming a "U" shape — ✅ valid cup structure.
Volume tends to decrease during the cup and increase on the right side — which seems consistent here.
Handle Formation:
The handle is shorter in duration and has a mild retracement, not breaking the uptrend channel — ✅ valid handle structure.
The breakout from the handle appears to be approaching the resistance/supply zone — this is typically where confirmation is needed.
Resistance/Supply Zone:
The horizontal resistance around ₹1,100 is correctly marked. A breakout above this zone with strong volume would confirm the pattern — ✅ correct identification.
🎯 Target Projection
The target has been drawn correctly using the height of the cup added to the breakout level.
Based on the chart, the target near ₹1,400–₹1,450 seems technically justified (around a 30–35% upside).
⚠️ Stop-Loss & Risk Management
The stop-loss zone near ₹950 aligns well with the handle’s lower trendline and the uptrend channel support — ✅ logical and well-placed.
The left side shows a clear decline followed by a rounded bottom and a steady recovery forming a "U" shape — ✅ valid cup structure.
Volume tends to decrease during the cup and increase on the right side — which seems consistent here.
Handle Formation:
The handle is shorter in duration and has a mild retracement, not breaking the uptrend channel — ✅ valid handle structure.
The breakout from the handle appears to be approaching the resistance/supply zone — this is typically where confirmation is needed.
Resistance/Supply Zone:
The horizontal resistance around ₹1,100 is correctly marked. A breakout above this zone with strong volume would confirm the pattern — ✅ correct identification.
🎯 Target Projection
The target has been drawn correctly using the height of the cup added to the breakout level.
Based on the chart, the target near ₹1,400–₹1,450 seems technically justified (around a 30–35% upside).
⚠️ Stop-Loss & Risk Management
The stop-loss zone near ₹950 aligns well with the handle’s lower trendline and the uptrend channel support — ✅ logical and well-placed.
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.
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.