SMS PHARMA - Cup & Handle Breakout with Volume Confirmation
📊 SMS PHARMA – Cup & Handle Breakout with Volume Confirmation
🕰️ Timeframe: 1D | 📐 Pattern: Cup & Handle Formation
🔍 Technical Setup:
SMS Pharma has formed a classic Cup & Handle pattern, which is a bullish continuation pattern. The breakout has occurred above the neckline resistance with a clean breakout candle, confirming bullish momentum.
The falling trendline resistance has also been decisively broken, adding further confidence to the breakout strength.
🔑 Key Levels to Watch:
🔵 Resistance (Upside Targets):
₹258.05
₹271.70
🔴 Support Zones:
₹230.57 (neckline support)
₹211.77 (handle base)
₹181.95 (major horizontal support zone)
📊 Volume & Indicators:
🔺 Volume Surge at breakout confirms strength and participation — a good sign for trend continuation.
📈 RSI: 64.58 — close to overbought zone, but still indicating strength. Minor consolidation near ₹240 would be healthy before further up move.
🧠 Bias: Bullish
📉 Any pullback to ₹230–₹235 can offer a good entry opportunity with risk managed below ₹211.
⚠️ Disclaimer: This is an educational analysis and not investment advice. Do your own research before making any trading decisions.
📈 Follow PriceAction_Pulse for more breakout setups and swing trading ideas!
💬 Drop your thoughts in the comments — will this Cup & Handle breakout hit the ₹270 zone?
🕰️ Timeframe: 1D | 📐 Pattern: Cup & Handle Formation
🔍 Technical Setup:
SMS Pharma has formed a classic Cup & Handle pattern, which is a bullish continuation pattern. The breakout has occurred above the neckline resistance with a clean breakout candle, confirming bullish momentum.
The falling trendline resistance has also been decisively broken, adding further confidence to the breakout strength.
🔑 Key Levels to Watch:
🔵 Resistance (Upside Targets):
₹258.05
₹271.70
🔴 Support Zones:
₹230.57 (neckline support)
₹211.77 (handle base)
₹181.95 (major horizontal support zone)
📊 Volume & Indicators:
🔺 Volume Surge at breakout confirms strength and participation — a good sign for trend continuation.
📈 RSI: 64.58 — close to overbought zone, but still indicating strength. Minor consolidation near ₹240 would be healthy before further up move.
🧠 Bias: Bullish
📉 Any pullback to ₹230–₹235 can offer a good entry opportunity with risk managed below ₹211.
⚠️ Disclaimer: This is an educational analysis and not investment advice. Do your own research before making any trading decisions.
📈 Follow PriceAction_Pulse for more breakout setups and swing trading ideas!
💬 Drop your thoughts in the comments — will this Cup & Handle breakout hit the ₹270 zone?
أغلقت الصفقة: تم الوصول للهدف
The first resistance level has been touched. If the trend is to continue, it's important to follow a trailing stop-loss strategy and patiently wait for the price to approach the second resistance level.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.