Major Resistance Breakout – Momentum Expansion Setup

This chart is a strong example of a rounded bottom formation followed by a breakout at a key supply zone. The structure reflects a complete cycle of distribution → accumulation → breakout. The critical zone here was ₹580–590, which had acted as a major resistance in the past. The stock has now decisively broken above this level, indicating that supply has been absorbed and buyers are in control. From a technical perspective: Rounded base confirms trend reversal Strong bullish candles near breakout show momentum expansion Higher highs & higher lows indicate trend continuation Breakout is happening with structure support, not randomly Projection: Based on the depth of the base, the stock has the potential to move towards ₹650–680 (~12–15% upside) in the near term. Key Levels: Support: ₹560–570 (breakout retest zone) Resistance/Target: ₹650–680 Conclusion: This is a classic breakout after consolidation, which often leads to sustained moves. As long as the price holds above ₹580, the structure remains bullish. Any pullback towards the breakout zone could provide a favorable entry opportunity.