Strong Base Formation Breakout – Ready for Expansion

This chart reflects a well-structured rounded bottom formation, indicating a gradual shift from a corrective phase into accumulation. The price action shows stability, with reduced volatility near the bottom and steady higher lows forming thereafter. The critical moment here is the clean breakout above the ₹530–535 resistance zone, which has acted as a supply area in the past. The recent strong bullish candle suggests institutional participation and momentum expansion. From a technical perspective: Rounded base confirms trend reversal setup Strong breakout candle indicates fresh buying interest Price sustaining near highs shows strength, not exhaustion Structure supports a continuation rally rather than a false breakout Projection: Based on the depth of the base, the stock has potential to move towards ₹620–650 (~15–20% upside) in the coming weeks. Key Levels: Support: ₹510–520 (retest / demand zone) Resistance/Target: ₹620–650 Conclusion: This is a classic accumulation → breakout → expansion pattern. As long as the stock sustains above ₹530, the probability favors continuation on the upside. Any pullback towards the breakout zone could offer a favorable entry with controlled risk.