$CHENNPETRO The chart shows a large multi-year Cup Formation that has now reached the neckline resistance zone. The left rim was formed around ₹1,150–1,180 during 2024. After a deep correction toward ₹450–500, the stock built a rounded base and has climbed back to the previous high. Current price is ₹1,184, sitting right at the breakout level. This is a classic stage where a major trend acceleration can begin. 2) Breakout Zone Major Resistance / Neckline ₹1,150 – ₹1,180 The latest weekly candle has: Closed above the neckline. Produced a strong bullish expansion candle. Indicated potential breakout confirmation. A weekly close above ₹1,180 would strengthen the bullish case considerably. 3) Measured Move Targets Cup Depth Calculation: Neckline: ~₹1,180 Bottom: ~₹450 Depth: ~₹730 Projected targets: 1450-1650 4) Momentum Assessment Bullish Factors ✅ Multi-year base completed. ✅ Breakout occurring after a long consolidation. ✅ Strong weekly candle near all-time resistance. ✅ No significant overhead supply once the breakout is confirmed. ✅ Higher highs and higher lows visible on the right side of the cup. Risk Factors ⚠ Stocks often retest the neckline after a major breakout. ⚠ Failure to hold above ₹1,150 may delay the move.