Bank of Maharashtra (Weekly Chart)

CMP: ₹71.95 Breakout Zone: ₹72–₹74 Pattern: Multi-month Cup Formation 🟢 Structure Overview Clear formation: Left high: ~₹72–₹75 Bottom: ~₹45–₹48 Right side recovery: Complete Price now retesting previous high This is a classical cup breakout attempt on weekly timeframe. 📐 Measured Move Projection Cup depth ≈ ₹27 Breakout target: ₹74 + ₹27 ≈ 🎯 ₹100–₹105 Your marked 41% move aligns perfectly with classical projection. 📊 EMA Structure ✔ Price above 26 EMA (₹61) ✔ 26 > 52 EMA ✔ 225 EMA rising (~₹45) ✔ Strong trend alignment Momentum structure supports breakout. 🔥 What Makes This Interesting Strong rally from ₹50 → ₹72 Tight consolidation near highs No deep pullback PSU banking momentum still intact This is constructive behavior before expansion. 🔑 Key Levels Support: ₹65 (short-term) ₹60 (structure support) Resistance: ₹74 (critical breakout level) Invalidation: Weekly close below ₹60 weakens setup. 🏦 Sector Context PSU banks already had strong runs. This looks like second-leg breakout attempt, not early stage. If banking momentum resumes, this can outperform. 📌 Strategy Aggressive: Enter near ₹70–₹72 with stop below ₹65 Conservative: Wait for weekly close above ₹74 Positional Target: ₹100 zone 📊 Relative Strength vs Axis Bank Compared to Axis Bank Limited: Axis = Cleaner high-timeframe breakout Bank of Maharashtra = Higher beta, higher volatility Risk-reward here is sharper, but risk also higher.