POCL - Cup and Handle - LongThe price has formed a classic “cup and handle” pattern, breaking above the resistance zone near ₹1,050–₹1,200, which previously acted as a ceiling for over a year. This breakout is confirmed by strong volume, indicating robust buying interest.
The level of ₹1,012.90 is marked as support and potential stop loss (SL). A close below this level would invalidate the breakout, making it a logical point for risk management.
Based on the height of the cup and handle pattern (approx. ₹680 from base to breakout), the projected target is around ₹1,879.45, suggesting a potential 50%+ upside from the current breakout level.
Notice the rising volume bars during the breakout, which give confidence that this move is backed by real market strength, not just price manipulation.
Above ₹1,200, the setup favors long positions toward ₹1,870, following the classic chart breakout principles. Strict stop loss (SL) at ₹1,013 is advised to protect capital in case the breakout fails.
