Currency Grow (CA & SEBI Reg IA Omkar Bhutada) · 22nd May
This weekly structure in Supriya looks technically interesting. Looking at your marked range:
SUPRIYA
What I see:
Long consolidation box between roughly ₹570–₹820
Multiple failed attempts near ₹817–820 resistance
Recent strong impulsive candles from the lower zone (~₹580–600)
Price now at ₹777, approaching the top of the range
Momentum expansion is stronger than prior swings
This is essentially a range accumulation → breakout attempt setup.
Your arrow toward ₹1,050–1,100 is reasonable only if the weekly close sustains above ₹820.
Probable path:
Immediate resistance: ₹817–₹830
Weekly close above this → breakout confirmation
Retest zone: ₹800–820
Then move toward:
₹900
₹980
₹1,050–1,100
The move projection comes from measuring the range height:
Range ≈ 820 − 570 = ~250 points
Breakout target:
820 + 250 ≈ ₹1,070
That aligns closely with your arrow.
The bigger insight: price is not breaking out after a vertical rally; it's breaking out after 18–20 months of sideways compression, and such bases often create strong trend legs.
Risk area:
Rejection around ₹820 with a weekly bearish candle
Drop back below ₹730 can trap breakout buyers
Among the charts you've shared (Arvind, Zydus, Raymond, Dredging, Sanghvi Movers, Supriya, etc.), Supriya currently sits in the category of "early-stage breakout candidate" rather than already extended momentum.
This is the type of structure many positional traders prefer because risk can be defined tightly around the range.