Multi-Cup Breakout Setup in INOX India Ltd – Strong Continuation Signal 🚀

Technical Structure This chart presents a rare and powerful multi-stage Cup Formation, indicating sustained accumulation over a longer period. First Cup: Deep correction followed by a strong recovery Second Cup (Smaller): Consolidation near highs, showing absorption of supply Breakout Zone: ₹1290–₹1305 acted as a strong resistance, now convincingly broken This kind of structure typically leads to trend continuation with strong follow-through. Elliott Wave Perspective The first cup can be seen as Wave 2 correction The second smaller cup acts as a Wave 4 consolidation Current breakout signals the beginning of Wave 5, often leading to a final sharp rally Momentum & Price Behavior Strong bullish candles near breakout indicate institutional participation Higher lows formation confirms trend strength No major rejection near resistance → clean breakout AVWAP Insight Price is sustaining above key value zones Indicates buyers are in control and dips are likely to be bought Trade Setup Breakout Level: ₹1300 Target Zone: ₹1500–₹1550 (≈16–17% upside as marked) Invalidation: Weekly close below ₹1240 Why This Setup Stands Out ✔ Multi-cup structure (strong accumulation) ✔ Clean resistance breakout ✔ Elliott Wave 5 continuation ✔ Strong price action confirmation Conclusion This is a high-probability continuation setup, not just a simple breakout. Stocks forming such structures often trend smoothly with minimal corrections.