Chemcon Specialty Chemicals (Daily Chart) – Cup & Handle Breakout Analysis

Structure Left rim resistance: ₹206–208 Cup bottom: ₹126–130 Right rim: ₹206–208 Current price: ₹207.88 Breakout candle closed almost exactly at resistance with a strong expansion move. The base has developed over nearly 5–6 months, which improves the reliability of the pattern. Breakout Zone Critical breakout level: ₹206–208 The latest candle: ✅ Large bullish range candle ✅ Closed above resistance ✅ Strong momentum expansion ✅ Breakout from prolonged downtrend structure This is the first meaningful breakout after a long corrective phase. Measured Move Targets Cup depth: Rim = ₹208 Bottom = ₹128 Depth ≈ ₹80 Target Projection T1: ₹240–250 T2: ₹285–290 T3: ₹320+ (if sector momentum remains strong) A standard cup-and-handle measured move gives: ₹208 + ₹80 = ₹288