Strong Cup & Handle Style Breakout Setup

Suryoday Small Finance Bank is showing a powerful bullish reversal structure on the weekly timeframe. What the Chart Indicates The stock formed a large rounding base/cup pattern after a prolonged downtrend. Resistance near ₹155–₹160 acted as a major supply zone for many months. Now price has given a decisive breakout above the neckline with strong momentum candle expansion. Structure suggests transition from accumulation phase to markup phase. Elliott Wave Possibility The breakout structure also supports an impulsive wave setup: Wave (1): Initial breakout rally Wave (2): Healthy pullback/retest Wave (3): Strong momentum expansion phase Wave (4): Consolidation Wave (5): Final bullish extension This is exactly what your projected path on chart is visualizing. Key Levels Breakout Zone: ₹155–₹160 Immediate Support: ₹150 Positional Support: ₹138–₹140 Upside Targets Using the cup depth projection: Target 1: ₹180 Target 2: ₹200 Extended Target: ₹220+ Why This Setup Looks Strong Multi-month base breakout Rounded accumulation structure Fresh price expansion after consolidation Higher highs + higher lows emerging Banking sector participation improving Trading Perspective Momentum traders can ride continuation above ₹170. Ideal risk-reward comes on pullback near breakout zone. Weekly close above ₹175 can accelerate momentum further.