HIKAL LTD - Long-Term Cup & Handle Breakout | Weekly Chart

HIKAL LTD - Long-Term Cup & Handle Breakout | Weekly Chart
🕒 Timeframe: 1W | NSE: HIKAL
📅 Date: April 18, 2025
💰 CMP: ₹431.60
📈 Volume: 4.57M

🔍 Chart Highlights
☕ Cup & Handle pattern forming over a multi-year base, suggesting a potential long-term breakout.

📏 Breakout Zone (Resistance):
🟪 ₹440–₹460 (purple zone) – Multiple rejections in the past. Price is now testing this major supply zone.

📉 Downtrend Resistance Line:
Price has broken above the falling trendline, confirming bullish strength.

🟩 Support Levels:
₹400 (recent breakout retest zone)
₹360 (previous structure low)

📈 Resistance Ahead:
₹470 (long wick area)
₹510 (supply zone)

🧠 Technical Indicators
📊 RSI (Relative Strength Index)
RSI at 61.63, approaching the bullish zone
RSI breakout above previous bearish structure
“Bull” and “Bear” labels show previous sentiment shifts

🔔 Conclusion
✅ A classic Cup & Handle breakout on weekly timeframe with strong volume surge
✅ Above key resistance with bullish RSI — suggests potential continuation
⚠️ Watch for sustained close above ₹460 for confirmation

🔍 Chart by: PriceAction_Pulse
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✅ Educational purpose only — DYOR before any investment decision.