Range Breakout Setup in Vodafone Idea Limited

This weekly chart is showing a prolonged accumulation structure with price now approaching a major breakout zone near ₹12. Technical Structure Stock remained inside a broad consolidation range for nearly 2 years. Strong support developed around ₹6–₹7 zone. Multiple rejections near ₹11.8–₹12 indicate a critical supply area. Current rally shows improving momentum and higher lows formation. The structure resembles a large base-building phase before potential expansion. Bullish Signals Visible Rounded accumulation pattern. Strong recovery from lower levels. Momentum candles expanding near resistance. Supply absorption visible after repeated tests of ₹12 zone. Important Levels Immediate Resistance: ₹12 Breakout Confirmation: Sustained weekly close above ₹12 Support Zone: ₹10–₹10.5 Major Structural Support: ₹8.5–₹9 Trading Interpretation Aggressive traders may track breakout participation above ₹12. Conservative traders can wait for breakout + retest confirmation. Failure to cross ₹12 decisively may keep the stock range-bound temporarily. If volume expansion accompanies the breakout, the probability of a strong trending move increases substantially.