Rounded Base Breakout in TD Power Systems Limited – Strong Continuation Setup

This chart is a textbook example of accumulation → breakout → expansion, and it’s unfolding cleanly on the weekly timeframe. Technical Structure (What Stands Out) The stock has formed a well-defined rounded bottom (cup structure) after a healthy correction. Price has now reclaimed and sustained above the neckline (~₹900–950 zone). The breakout is happening with strong bullish candles, indicating momentum participation. Price Action Insight The right side of the cup shows higher highs + higher lows, confirming trend reversal. Minimal resistance left above breakout suggests low supply zone ahead. No major rejection near breakout = acceptance at higher levels. Elliott Wave Perspective This likely marks the transition into a Wave 3 (strongest impulse wave). Prior correction (cup formation) acted as a Wave 2 consolidation. Target Projection Cup height breakout gives: Upside Potential: ₹1,050 – ₹1,120+ Measured move aligns with your marked projection Key Levels to Watch Support Zone: ₹900–920 (breakout retest area) Invalidation: Below ₹850 (structure weakening) Momentum Trigger: Sustained move above ₹980 Smart Interpretation This is not an early breakout, it is a confirmed breakout with structure + momentum alignment. Accumulation phase is complete Breakout is already triggered Now market is likely entering markup phase Verdict A high-conviction positional trade setup with: Clean pattern (rounded base) Strong breakout confirmation Favorable risk-reward