Finolex Cables Limited (Weekly Chart)

CMP: ~₹946 Structure: Major Base Breakout Attempt Breakout Level: ₹960 🔍 Big Picture View (Weekly) For almost 1 year, price was stuck in a broad base: Range: ₹720 – ₹960 This was a long accumulation structure after a deep correction from ₹1,650. Now price is: ✔ Breaking above ₹960 resistance ✔ Closing strongly near highs ✔ Trading above rising long-term moving average (purple line) ✔ Showing strong weekly momentum candle This is a structural shift. 📈 Measured Move Base height ≈ ₹240 ₹960 + ₹240 ≈ 🎯 ₹1,200 Your projection toward ₹1,200–₹1,220 aligns perfectly with classical measured move logic. 🧠 Why This Is Important Weekly timeframe + long base = higher probability move. Unlike: InterGlobe Aviation Limited → breakdown Bajaj Finserv Ltd → continuation weakness This one is transitioning from: Distribution → Accumulation → Expansion phase. That’s powerful when it happens on weekly charts. 📊 Key Levels Breakout Level: ₹960 Immediate Support: ₹900 Major Support: ₹850 Upside Levels: ₹1,100 ₹1,200 (measured move) ₹1,300 (next structural supply zone) Invalidation: Weekly close back below ₹900 🎯 Trading Perspective Aggressive: Enter on breakout above ₹960 with stop below ₹900. Conservative: Wait for weekly close above ₹980 and then buy retest. Investors: This is early-stage trend reversal structure if breakout sustains. 🧩 My Professional View This is the first clean bullish structure among the charts you’ve shared. Weekly base breakout setups often outperform short-term breakdown plays if market breadth improves.