South Indian Bank (Daily Chart Analysis)

1. Pattern Identification Clear Cup & Handle breakout setup visible on the daily timeframe. Cup bottom formed around ₹34–35. Right side of the cup has reached the previous resistance zone near ₹45. Price is now attempting to break above the neckline after a long accumulation period. 2. Breakout Zone Major breakout level: ₹44.90 – ₹45.50 Current price: ₹45.33 The stock is trading right at the resistance zone and appears to be on the verge of a confirmed breakout. 3. Measured Move Targets Cup depth: Neckline ≈ ₹45 Cup bottom ≈ ₹34 Depth ≈ ₹11 Targets after successful breakout: Target 1: ₹50–51 Target 2: ₹56 Target 3: ₹60+ (extended target) The projected move on your chart towards ₹50+ aligns well with the classical cup-and-handle measurement. 4. Momentum Assessment Bullish Factors Strong recovery from ₹34 to ₹45. Higher highs and higher lows since April. Buying pressure increasing near resistance instead of rejection. No major supply visible between ₹45 and ₹50. Concern Multiple previous rejections occurred near ₹45–46. Need a decisive close above the resistance zone for confirmation.