MARINE | VCP Pattern | Breakout | Good Volume | DailyHere’s a **detailed analysis** of the Marine Electricals Ltd. chart you shared:
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### **Chart Pattern & Setup:**
✅ **VCP Pattern**:
* Well-formed **VCP *218 ** level, as indicated.
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### **Measured Move & Target:**
* Depth of cup = **78.78 ** (\~36.12% move).
* **Target after breakout:**
Breakout Level (218) + Depth (78.78) = 296.90
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### **Volume Confirmation:**
✅ Huge surge in volume on breakout day, reinforcing the bullish breakout.
✅ Volume expansion is above moving average, a positive sign.
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### **Key Technical Levels:**
* **Breakout level:** 218
* **Current price:** 236.17
* **Resistance/Target:** 296.90
* **Support:** 218 (former resistance now turned support).
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### **Momentum & Indicators:**
✅ All key EMAs (8, 21, 55, 144) are upward sloping – confirming a **bullish trend**.
✅ Fundamental earnings data show significant YoY growth – another positive factor.
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### **Trade Idea & Risk Management:**
📈 The breakout suggests a target of **\~296 **.
📉 A close below **218 ** would invalidate the pattern—consider this as a stop-loss level for risk management.
