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CA Omkar Bhutada - SEBI Reg IA

23rd May · SEBI-Registered Analyst

Looking at SPARC again with the marked range, I’d refine the view slightly. The character of the breakout candle matters here.

$SPARC What changed: Massive weekly expansion candle (~28% move) directly into resistance Price has now essentially closed at/above the 15–16 month range ceiling (~₹205) This is no longer only a “candidate” setup — it is entering active breakout territory The structure is: Long rectangle accumulation → sharp markup phase That transition can create fast moves because supply above the range tends to be limited. My roadmap from this chart: Immediate trigger: ₹205–210 A weekly close + follow-through above this zone is important. Then probable zones: ₹230–235 → first pause ₹255–270 → short-term measured objective ₹300+ → larger positional target Range measurement: Base height ≈ ₹205 − ₹110 = ~₹95 Target projection: ₹205 + ₹95 ≈ ₹300 What I particularly like: ✔ Long sideways structure ✔ Breakout after accumulation, not after euphoria ✔ Strong momentum candle ✔ Expansion from lower range What I'd still watch: This candle is huge. Large expansion candles often see 1–2 weeks of digestion or retest. Healthy behavior: Retest around ₹190–205 Hold and move higher Unhealthy behavior: Close back inside the box below ₹180–185

#StockInNews#WatchOutFor#Today’sTradingSetup#TechnicalViews#FundamentalViews
SPARC_2026-05-23_11-57-58.png
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