Rounded Bottom Breakout – Momentum Building for Upside

This chart presents a textbook rounded bottom formation, indicating a steady transition from a downtrend into a potential uptrend. The structure reflects gradual accumulation, where smart money typically builds positions quietly. The most important development here is the breakout near ₹235, which has historically acted as a strong resistance zone. Price is now attempting to sustain above this level, signaling a shift in market sentiment. From a technical lens: The rounded base confirms trend reversal structure Recent candles show strong bullish momentum Higher lows formation supports continuation strength Price is hugging the breakout zone, indicating acceptance above resistance Projection: Based on the depth of the pattern, the stock has potential to move towards ₹270–280 (~15–18% upside) in the near to medium term. Key Levels: Support: ₹220–225 (retest zone) Resistance/Target: ₹270–280 Conclusion: This is a classic base + breakout + momentum alignment setup. If price sustains above ₹235, it can trigger a fresh leg of rally. A minor pullback towards the breakout zone could offer a strong risk-reward entry.