UNOMINDA -CUP & HANDLE BREAKOUT

🔎 1. Chart Pattern

The chart is clearly showing a Cup and Handle Pattern (highlighted).

Breakout has happened above the neckline (~₹1130–1140) with strong bullish candle.

Cup & Handle is a continuation pattern – breakout targets can be measured.

📌 Target Calculation:

Depth of the cup = 1132 (neckline) – 767 (bottom) ≈ 365 points.

Breakout above 1132 → Target = 1132 + 365 = ₹1495 approx.

Short-term resistance: ₹1270–1280 (already touched).

Next zone: ₹1350 → ₹1450 → ₹1500.

🔎 2. Support & Resistance

Immediate Support: ₹1130–1150 (previous neckline).

Strong Support Zone: ₹1050–1070 (previous consolidation).

Major Support: ₹767 (cup bottom).

Immediate Resistance: ₹1270–1280 (tested).

Major Resistance Levels: ₹1350, then ₹1495.

🔎 3. Candlestick / Price Action

Current weekly candle is long green, wide-range, high volume breakout → very bullish.

Closing above ₹1250 is confirmation of breakout.

🔎 4. Indicators (if applied)

RSI (Relative Strength Index): Likely crossing above 65–70 → shows momentum but not yet extreme overbought (healthy breakout).

MACD: Likely bullish crossover with histogram expansion.

Volume: Breakout candle with strong volume confirms institutional buying.

Moving Averages:

Price is above 20W, 50W, 200W EMAs → strong uptrend.

Golden cross already confirmed earlier.

🔎 5. Trend Outlook

Primary Trend (1–2 years): Strong Bullish.

Intermediate Trend (2–6 months): Bullish continuation towards ₹1450–1500.

Short Term (1–4 weeks): May retest ₹1180–1200 before further rally.

📌 Conclusion (Expert View)

✅ Stock has given a Cup & Handle breakout above ₹1130 with strong momentum.
✅ Upside targets: ₹1350 → ₹1450 → ₹1500.
✅ Downside support: ₹1130, then ₹1050.
⚠️ Near-term, RSI may cool off → watch for pullback to ₹1180–1200 as entry opportunity.

👉 Strategy:

Swing Traders: Buy on dips near ₹1180–1200 with SL below ₹1050.

Investors: Can hold for long-term with next target ₹1500+.

This is only for educational pattern not for sugesstion.