📌 Breakout on Weekly Timeframe With Multi-Signal Confirmation

📍 Technical Analysis 🔹 Downtrend Line Breakout Price has successfully broken above a long-term descending trendline, indicating a potential shift from lower-high structure to bullish trend continuation. 🔹 EMA Confirmation Price has closed above both EMA 26 & EMA 52, signalling strength returning in buyers. The long-term EMA 225 around ₹168 is acting as a major support zone. 🔹 Higher-Timeframe Support Formation Buyers consistently defended the ₹165–170 zone, creating a strong base before the breakout—clear accumulation footprint. 📈 Weekly close above ₹200 will further strengthen bullish momentum. 📍 Elliott Wave View The stock appears to have completed a corrective Wave C near the support zone and is now likely entering the start of Wave 1 of a new impulsive cycle, supported by a structural breakout. 📍 Fundamental Snapshot 🟢 Traditional private sector bank with strong improvement trajectory 🟢 ROE & ROA improving YOY 🟢 Reduced NPAs and better profit margins 🟢 Healthy credit growth outlook supported by banking cycle strength A breakout supported by strengthening fundamentals increases conviction in long-term positional trades.