CARERATING ATH Breakout | Cup & Handle Pattern - ₹2927 Here’s the **technical analysis** for **CARE Ratings Ltd (NSE: CARERATING)**
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### 📊 **Technical Analysis – CARE Ratings Ltd (Weekly Time Frame)**
#### ✅ **Pattern Identified: Cup and Handle Breakout**
* A **multi-year Cup and Handle pattern** has completed.
* Price broke out **above the neckline/resistance zone of ₹1584**, confirming the bullish breakout.
* This breakout follows a prolonged accumulation and consolidation phase from **2018 to 2023**, which adds to its reliability.
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### 📈 **Breakout Details:**
* **Breakout Level (Neckline):** ₹1584
* **Current Price (May 25, 2025):** ₹1709.30
* **Target (Pattern Projection):** ₹2927
* **Measured Move:** ₹1338.55 (Cup depth) projected above breakout level
* **Potential Upside:**+84% from breakout point
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### 🔎 **Volume & Momentum:**
* **Volume Surge** confirms buying interest and institutional accumulation.
* Recent breakout candle shows strong bullish momentum with a close well above the resistance.
* The **handle portion** formed a tight consolidation, suggesting reduced selling pressure.
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### 🟢 **Support Levels:**
* **Major Support:** ₹1584 (previous resistance turned support)
* **Secondary Support:** ₹1350 zone (handle low)
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### 🚨 **Resistance Levels:**
* **Immediate Resistance:** ₹1745–₹1800 zone (short-term supply zone)
* **Major Resistance:** None until the projected target of ₹2927
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### 📌 **Conclusion:**
CARE Ratings has given a **textbook Cup & Handle breakout** on the weekly chart with high volume and strong price action. The pattern suggests **long-term bullish potential**, making it a **strong candidate for swing or positional trading**. Traders may watch for a **retest of ₹1584** for low-risk entry opportunities.
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