ICICIPRULI – IHNS + Cup & Handle Confluence Breakout Setup

DESCRIPTION:
ICICI Prudential has developed a bullish reversal structure with strong pattern confluence.

The chart highlights an Inverse Head & Shoulders pattern:

Left Shoulder and Right Shoulder forming higher lows

A deeper Head marking final seller exhaustion

A down-sloping neckline acting as breakout level

At the same time, the right shoulder forms a Cup & Handle style consolidation, indicating strong absorption of supply.

The rising support trendline continues to protect price, showing demand strengthening with each higher low.

A decisive breakout above the neckline can activate the combined bullish targets, with a measured objective of ~₹47.90 (≈7.6%) as marked on the chart.

Pattern Confluence Advantages:

IHNS → Major trend reversal signal

Cup & Handle → Breakout continuation power

Rising support → Strong buyer presence

Neckline breakout → Momentum confirmation

A successful breakout may trigger an upside move toward the ₹675–690 zone.