Breakout from Rounded Base – Early Trend Reversal Play

The chart is showing a clean rounded bottom formation, which typically signals a gradual shift from distribution to accumulation. After a prolonged downtrend, price has started forming higher lows, indicating strong buying interest at lower levels. Now, the key development here is the decisive breakout above the neckline zone (~₹103–104). This level had acted as a strong resistance multiple times in the past, and the current breakout suggests a potential trend reversal. From a technical standpoint: The rounded structure indicates institutional accumulation Breakout candle is strong, with momentum confirming buyer dominance Price is now trading above the base, which can act as new support Projection: Based on the pattern measurement, the stock has the potential to move towards the ₹125–130 zone (~25% upside) in the coming weeks, provided it sustains above the breakout level. Key Levels to Watch: Support: ₹100–102 (breakout retest zone) Resistance/Target: ₹125–130 Conclusion: This setup reflects a classic base formation + breakout, often seen at the beginning of a new uptrend. Any minor pullback towards the breakout zone can offer a favorable risk-reward entry.