Shivalik Bimetal Controls (SBCL) – Daily Chart Analysis

$SBCL What the Chart is Showing Phase 1 – Strong Impulse Move Price rallied from: ₹566 → ₹780 Gain ≈ 38% This is the pole of the pattern. Phase 2 – Consolidation After touching ₹780: Price corrected only to around ₹670. Decline was shallow. Volume contracted. Sellers could not push below the 50% retracement (₹711) for long. This indicates strong demand. Phase 3 – Cup / Handle Formation The recent rounded structure shows: ✅ Higher lows ✅ Recovery back to previous high ✅ Breakout retest successful ✅ Price again testing ₹780 resistance This is exactly where strong stocks begin the next momentum leg.