Centum Electronics Breakout. A 20% Up move possibility

Pattern Analysis
1. Broadening Channel:
• This pattern is characterized by higher highs and lower lows, forming a widening range.
• It suggests increased volatility and indecision in the market.
2. Key Observations:
• The stock price is nearing the upper resistance line of the broadening channel (~₹2300–₹2400 levels).
• Historical data shows a strong rejection from this resistance zone.
• Support lies near ₹1800 (the lower boundary of the channel).
3. Volume:
• A breakout above the resistance line with significant volume could confirm an upward trend continuation.
• A lack of volume near the resistance could result in a pullback or consolidation.
4. Risk-Reward:
• If the stock breaks out, the potential upside could be near ₹3000 (as indicated in the projection).
• However, failure to break the resistance might result in a decline to the lower support (~₹1800 or lower).

Disclaimer- This is for educational purposes only. Please do your own research before investing.