JB Chemicals & Pharmaceuticals Ltd.

Weekly Cup Breakout – High Timeframe Expansion Setup 📈 Timeframe: Weekly CMP: ₹1,988 Breakout Level: ₹1,950–1,970 Projected Move: ~₹2,500–2,550 (≈28%) This is a multi-month cup formation on weekly chart, which makes it structurally stronger than your daily setups. 🔹 Structure Overview Left High: ~₹1,980 Bottom: ~₹1,420 Right Side Recovery: Gradual higher highs & higher lows Now: Clean breakout above ₹1,950 zone This is not noise. This is institutional timeframe accumulation resolving upward. 🔹 Pattern Measurement Cup Depth: ₹1,980 – ₹1,420 ≈ ₹560 Measured Target: ₹1,980 + ₹560 ≈ ₹2,540 Your projection of ~₹2,550 aligns almost perfectly. That’s textbook geometry. 🔹 Elliott Wave Context Wave 1: ₹1,400 → ₹1,980 Wave 2: Deep corrective rounded structure Wave 3: Initiating now If this is a weekly Wave 3: It should be powerful Pullbacks will be shallow Volume should expand on up weeks Wave 3 on weekly timeframe = multi-month opportunity. 🔹 Breakout Quality ✔ Strong weekly close near highs ✔ Resistance cleared cleanly ✔ No major rejection wick ✔ Structure matured for months before breakout This is not a premature breakout. 🔹 AVWAP / Value Zone Logic The breakout zone around ₹1,950–1,980 now becomes: Value support AVWAP cluster region Demand re-entry zone As long as weekly closes hold above ₹1,900–1,920, bias stays bullish. 🔹 Risk Zones Immediate Support: ₹1,950 Secondary: ₹1,820 Structure invalidation: Weekly close below ₹1,750