Kirloskar Oil Engines: Multi-Year Cup Completion at Major Resistance 🚀

Timeframe: Weekly Current Price: ~₹1,301 Structure: Multi-year Cup Pattern Retesting All-Time High Zone 🔹 Elliott Wave Perspective Strong impulsive rally into 2024 highs (~₹1,400) → likely Wave 3 Deep but structured correction into ₹600 zone → Wave 4 (time + price correction) Gradual rounding recovery forming a textbook Cup structure Current leg suggests beginning of Wave 5 expansion This is not just a bounce — It’s a high-timeframe trend resumption attempt. 🔹 Pattern Structure (Very Important) Resistance zone: ₹1,300–1,400 Cup depth: ~₹800 (₹1,400 high – ₹600 low) Handle formation: Mild consolidation near ₹1,200 before breakout attempt Now price is pressing against major supply from prior peak. If this level clears on weekly closing basis → supply vacuum. 🔹 AVWAP Insight If we anchor AVWAP from: 2024 swing high (~₹1,400) Or 2025 capitulation low (~₹600) Price is now: ✔ Well above AVWAP from the bottom ✔ Testing AVWAP from prior distribution zone Acceptance above ₹1,350–1,400 = Strong positional regime shift 🔹 Volume Behaviour Accumulation visible near ₹600–700 base Volume expansion on recent up weeks Current breakout candle shows strong participation No major distribution signs.