Sanghvi Movers: Multi-Year Range Breakout Signals Potential Trend Reversal

$SANGHVIMOV Sanghvi Movers has finally broken out of a 20-month consolidation range, closing decisively above the critical ₹405-410 resistance zone. The stock spent a prolonged period moving sideways between ₹230 and ₹410, allowing weak hands to exit while stronger participants accumulated positions. Such long-duration breakouts often lead to powerful trending moves as supply overhang gets exhausted. From an Elliott Wave perspective, the sharp decline from the 2024 highs appears to have completed a larger corrective phase. The extended sideways base formed during 2025 and early 2026 can be interpreted as a major accumulation structure completing Wave 2, while the current breakout above ₹410 may signal the beginning of a new Wave 3 advance. Historically, Wave 3 tends to be the strongest and fastest-moving phase of the cycle. The technical significance of this breakout lies in the duration of the consolidation. The longer a stock spends building a base, the greater the potential energy stored for the subsequent move. The breakout above ₹410 confirms a shift in market structure from range-bound action to a potential trending environment. From an AVWAP perspective, the Anchored VWAP from the March 2026 swing low would likely be positioned near the ₹320-340 region and has acted as dynamic support throughout the recent rally. The stock has consistently respected this zone during pullbacks, highlighting continued institutional accumulation. The former resistance zone near ₹405-410 now becomes an important support area.