IPCA on the weekly chart is a quality setup.

What stands out Clear cup / rounding accumulation structure developing. Major resistance around ₹1,695–1,700 has been respected multiple times. Current price around ₹1,605 is approaching the breakout zone with higher lows on the right side. Unlike panic spikes, price has spent time consolidating near highs → usually healthier behavior. Pharma names often produce strong trends after these long consolidations. The structure says: institutional accumulation before expansion, not exhaustion. Key levels Aggressive entry: ₹1,590–1,620 Safer entry: Weekly close above ₹1,700 Stop loss: ₹1,500–1,520 (Below recent swing and right-side structure) Targets Once ₹1,700 is taken out: Target 1: ₹1,850 Target 2: ₹1,950 Stretch target: ₹2,050+ The measured move on your chart (~14–15%) toward ₹1,940–1,950 looks reasonable. Structure quality score: 8.9/10 Why strong: ✅ Rounded accumulation ✅ Higher lows ✅ Near resistance with compression ✅ Good risk/reward ✅ Not overextended