🏦 Canara Bank – Cup & Handle Breakout (Weekly Chart)

1️⃣ Pattern Formation A perfect Cup & Handle pattern has developed over the last 12–14 months. The cup base formed near ₹70 (May 2024), and the rim resistance was around ₹127. The handle breakout has occurred with a strong bullish candle closing above ₹130–₹132 with solid volumes — confirming pattern activation. 3️⃣ Technical Structure Price is now sustaining above 20WEMA and 50WEMA – showing fresh momentum initiation. RSI > 60 and rising → confirms trend strength. Volumes expanded on breakout → confirms institutional participation. 5️⃣ Commentary Canara Bank has completed a year-long consolidation and is now breaking out of a massive Cup & Handle pattern, indicating the start of a new multi-month rally. The breakout aligns with sectoral strength in PSU Banks and strong quarterly earnings momentum.