Jindal Saw

Pattern Identification Large Weekly Cup Formation developing from the November 2025 bottom around ₹160. Price has recovered steadily and is approaching a major historical resistance zone. The cup is not yet confirmed; the stock is currently in the right side of the cup. Structure remains bullish as long as higher lows continue. Breakout Zone Major resistance: ₹266–270 This is the neckline and the key supply zone that rejected price multiple times in 2024 and 2025. A weekly close above ₹270 would confirm the breakout. Measured Move Target Cup depth: Neckline = ₹270 Bottom = ₹160 Depth = ₹110 Measured move: Target = ₹270 + ₹110 Primary Target: ₹380 Intermediate targets: ₹300 ₹330–340 ₹380 Momentum Assessment ✅ Price is trading well above the long-term moving average. ✅ Strong recovery from ₹160 to ₹250 in a relatively short period. ✅ Right side of the cup is forming with higher highs and higher lows. ⚠️ Last weekly candle shows some profit booking near resistance. ⚠️ Breakout confirmation is still pending.