Precision Wires India Limited

🔹 Structure Analysis (Elliott + Pattern Context) From the chart: Impulsive rally to ₹275 (Wave 1) Controlled rounded correction to ₹215–220 (Wave 2 – complex base) Higher low formation + tightening range Breakout above ₹276 neckline (Wave 3 initiation?) If this is Wave 3, it should: ✔ Expand strongly ✔ Show volume surge ✔ Not retrace deeply Today’s candle confirms impulse character. 🔹 Cup & Breakout Geometry Base height ≈ ₹60 Neckline ≈ ₹276 Measured move ≈ ₹335–340 You’ve marked ₹340 — perfectly aligned with structure math. That’s a 22% swing potential. 🔹 Volume Confirmation Volume: 2.13M (significant expansion vs base average) This is: ✔ Institutional participation ✔ Not retail-only breakout ✔ Strong accumulation completion Breakouts with volume expansion after long base → statistically strong continuation setups. 🔹 Key Levels Now Immediate Support: ₹276–278 (breakout zone) Short-Term Trail: ₹265 Structure Failure: Close below ₹255 As long as price holds above ₹276, bias remains bullish. 🔹 Momentum Character Unlike GMR: This is explosive. Large-bodied breakout candle. Range expansion. Clean structure. This falls under your preferred: ✔ Structure + momentum ✔ Clear invalidation ✔ Defined R:R 🔹 Risk–Reward If entered near ₹280–285: Risk: ₹15–20 Target: ₹335–340 R:R ≈ 1:2+ At CMP ₹292: Still tradeable, but better on pullback.