DATAPATTNS - Daily - Breakout -CnH

DATA PATTERNS INDIA LTD daily chart.

The most prominent feature here is a well-defined **cup and handle** pattern, which is typically a bullish continuation signal.

Here's a simple breakdown:

* **Cup:** A rounded bottom formation that occurred roughly between early November 2024 and late April 2025. This suggests a period of price consolidation before a potential upward move.

* **Handle:** After reaching a high around ₹2,845.50, the price has pulled back and is consolidating in a smaller, slightly downward-sloping pattern (the handle) between late April and mid-May 2025.

* **Breakout Level:** The horizontal line around ₹2,845.50 acts as the neckline or resistance. A sustained break above this level would confirm the cup and handle pattern.

* **Target:** Potential target around ₹3,904.50. This target is often estimated by measuring the depth of the cup and adding it to the breakout level.

**In simple terms:**

The stock price formed a rounded bottom (the cup), then went up and is now in a smaller pullback (the handle). If it breaks above the ₹2,868 level, it could potentially move towards the ₹3,904 area.

**Things to watch out for:**

* **Breakout Confirmation:** We need to see a clear break above ₹2,868.20 with strong buying volume to confirm the pattern.
* **Handle Formation:** The handle should ideally be a relatively shallow and short-lived consolidation.
* **Volume on Breakout:** Increased volume during the breakout would add more confidence to the bullish scenario.

Overall, the chart for DATA PATTERNS INDIA LTD suggests a bullish outlook based on the cup and handle pattern, with a potential target around ₹3,904.50 upon a successful breakout above ₹2,868.20.