⚡ Long Base Breakout Signals Trend Reversal in a Fundamentally Resilient Bank

📈 Technical Structure (Weekly Chart Insight) Price Action & Structure: The stock has spent an extended period forming a broad rectangular base between ~650 and 925, reflecting long-term accumulation after a sharp decline. The recent weekly close above the 920–930 resistance zone marks a decisive structural breakout, indicating a potential trend reversal rather than a short-term bounce. Elliott Wave Interpretation: The steep fall from higher levels represents a completed impulsive bearish cycle. The prolonged sideways movement fits a complex corrective Wave (2) / base-building phase, where weak hands exit and stronger participants accumulate. The current breakout signals the start of a fresh impulsive Wave (1) of a new bullish cycle, with the next expansion phase projecting toward the 1,200+ zone, aligning with the measured move highlighted on the chart. Range Resolution: Breaking above the upper boundary of a year-long range significantly improves risk–reward, as overhead supply has largely been absorbed. 💼 Fundamental Strength Snapshot Despite cyclical challenges, the bank continues to exhibit: Healthy ROCE relative to peers, indicating efficient use of capital. Improving earnings visibility, supported by normalization in asset quality. A diversified loan book that strengthens long-term profitability, adding conviction to the technical base breakout. 🎯 Final Takeaway This setup reflects a high-quality base breakout supported by multiple confirmations: Long-term range resolution ✔ Elliott Wave cycle reset ✔ Bullish MACD divergence ✔ AVWAP support flip ✔ Fundamentally resilient business ✔ As long as price sustains above the 920–930 zone, the structure favors trend continuation toward the 1,150–1,250 region over the medium term, with pullbacks likely to attract demand rather than trigger breakdowns.