Happy Forgings Limited

Massive Cup & Handle Breakout – Multi-Year Base Ignites Timeframe: Weekly Current Price: ~₹1,300 Structure: 18–20 month rounded base breakout This is one of the cleanest structural reversals you’ve shared recently. 🔹 Elliott Wave Structure From the chart: Prior peak near ₹1,300 (2024) → major correction Deep Wave 2-style rounded retracement to ~₹750 Long accumulation phase (base building) Now impulsive breakout candle → likely start of Wave 3 of larger degree Wave 3 after such a prolonged base typically gives expansion moves. Measured move projection on your chart: ₹1,850–1,900 zone (≈40–45% upside) This aligns with classical cup breakout projection. 🔹 Cup & Handle Confirmation ✔ Rounded bottom (institutional accumulation) ✔ Break above neckline ₹1,300 ✔ Strong bullish weekly candle ✔ Momentum expansion visible This is not a small breakout — this is structure shift. 🔹 AVWAP Context If anchored from: The swing high (~₹1,300 in 2024) Or from the base low (~₹750) Price has reclaimed and is holding strongly above AVWAP cluster — confirming absorption of supply. Breakouts that reclaim AVWAP after 12–18 months usually signal regime change. 🔹 Momentum Insight Strong wide-range breakout candle No visible bearish divergence Relative strength improving This is early-stage breakout, not late-stage exhaustion.