APL APOLLO TUBES LTD - Consilidation- Cup and Handle

APL APOLLO TUBES LTD - Daily Chart

Pattern: The chart shows a period of Price Consolidation from June 2024 within a broad range, roughly between 1,300 and 1,640. Within this larger consolidation, a "Cup and Handle" pattern has formed more recently.

Cup: Formed from approximately mid-February 2025 to mid-April 2025, with the low around 1,272.70.

Handle: A smaller consolidation (handle) formed in late April/early May 2025.

Neckline/Breakout Level: The price is attempting to break out above the neckline of this Cup and Handle, which also coincides with the upper resistance of the broader consolidation range, around 1,640.00 - 1,648.00.

Volume: Volume appears to be increasing on the current breakout attempt from the handle and the larger consolidation.

Target:

The depth of the more recent cup (approximately 284.95 points) projected from the breakout (around 1,586 - which seems to be the C&H neckline) gives a target around 1,850.40.

The height of the larger consolidation (from Oct 2024, approx 308.05 points) projected from the upper boundary breakout (around 1,648) gives a target around 1,957.60. The chart uses both.

Support: The breakout level around 1,640.00 - 1,648.00 is the key immediate support. The low of the cup (1,272.70) is a more significant long-term support.

Resistance: The immediate resistance is the current breakout zone. The projected targets of 1,850.40 and 1,957.60 are the next resistance levels.

Interpretation: APL Apollo is attempting a significant breakout from both a recent Cup and Handle pattern and a longer-term consolidation range. If successful, this could lead to a strong upward move towards the projected targets. The increased volume supports the bullish case. Confirmation above 1,648.00 is key.