United Breweries symmetrical triangle pattern breakout

2 days agoThe chart for United Breweries on the daily timeframe shows a bullish trend forming with the price currently at ₹2124.15. The price has recently broken through resistance (around ₹2100-₹2120), following a symmetrical triangle pattern, suggesting a potential breakout to the upside. The stock has respected the rising trendline for support.
The RSI is at 61.91, indicating strength but not yet overbought, leaving room for further upward momentum.
Volume has also increased on the breakout, which adds confirmation to the bullish signal. Immediate resistance appears around ₹2150-₹2200 while support is near ₹2050 Overall, the chart shows bullish potential, but price action around resistance levels should be monitored for any reversal signs.