Currency Grow (CA & SEBI Reg IA Omkar Bhutada) Β· 10th Oct
Tata Communications Ltd β Cup Breakout Setup Forming βπ
TATACOMM
π Technical View (Weekly Chart)
Tata Comm is forming a large cup pattern with resistance around βΉ1810, acting as the neckline.
Current price near βΉ1735 is approaching the breakout zone with strong bullish candles and volume expansion (+7.5% this week) β indicating strong institutional activity.
A confirmed weekly close above βΉ1810 would complete the breakout, projecting a target zone of βΉ2150β2250 (β +25%).
The base formation since February 2025 shows a rounded recovery, confirming accumulation.
π Strength Signs:
Volume surge with every upward move β classic confirmation of demand.
Price holding comfortably above short- and medium-term EMAs.
Multiple rejections at the neckline earlier β a breakout now would trigger multi-month trend continuation.
π‘ Summary:
Breakout Level: βΉ1810
Targets: βΉ2150 β βΉ2250
Support: βΉ1600
Bias: Bullish continuation