Havells is forming one of the better daily cup breakout setups.

$HAVELLS Technical Structure Current Price: ~₹1,288 Resistance: ₹1,300–1,305 Cup Bottom: ~₹1,125 Pattern: Well-defined Cup formation Trend: Higher highs and higher lows from June onward. The cup has developed over nearly 3 months, which generally makes it more reliable than a very short-term pattern. Resistance Analysis The ₹1,300 area has acted as resistance twice: Left rim around April Right rim now in August The stock has returned to that level after a rounded recovery, which is constructive. However, unlike some explosive breakouts, the current candles are relatively small and the stock is pausing just below resistance. That means buyers are absorbing supply, but the breakout is not yet confirmed. Cup Projection Approximate cup depth: Rim: ₹1,300 Bottom: ₹1,125 Depth ≈ ₹175 Classical measured target: ₹1,300 + ₹175 = ₹1,475 So, if the breakout sustains, the medium-term technical objective lies around ₹1,450–1,480. Important Levels Bullish confirmation Daily close above ₹1,305–1,310 Preferably accompanied by higher-than-average volume. Targets after breakout Target 1: ₹1,350 Target 2: ₹1,400 Target 3: ₹1,450–1,480 (measured move) Support Immediate: ₹1,270–1,275 Strong support: ₹1,240–1,250 A close back below ₹1,270 would increase the probability of more time spent inside the base rather than an immediate breakout.