Latent View – Cup-Shaped Base Forming With Volume Surge, But Resistance Nearby

1️⃣ Probable Cup-Shaped Base in Formation Price structure over the last many months is forming a large cup-like rounding bottom. This denotes long-term accumulation and a gradual shift from supply to demand. 2️⃣ Volume Spike Indicates Interest A notable increase in volume has appeared near the right side of the cup — a positive sign. This shows fresh participation as price approaches a major resistance zone. 3️⃣ Short-Term Resistance Ahead The horizontal supply zone around ₹560–₹575 remains the key hurdle. Price has historically struggled here, so a clean breakout is needed for momentum continuation. 4️⃣ RSI Stable but Not Yet Showing Strength RSI is oscillating in the mid-range — neither strongly bullish nor weak. A move above 60 would support any breakout attempt. 5️⃣ Overall Structure Suggests Strength but Needs Confirmation ✔ Cup-like structure forming ✔ Rising volume ⚠ Resistance overhead ⚠ RSI not yet showing breakout strength A breakout above the cup-rim resistance with strong volume would confirm the bullish continuation pattern. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)