Triangle Breakout Alert: IOLCP Eyes ₹100!

Key Observations:
Symmetrical Triangle Pattern:

The price was consolidating within a symmetrical triangle, marked by:

Descending trendline (upper resistance)

Ascending trendline (lower support)

Breakout:

On May 15, 2025, the stock broke out above the descending trendline with a strong bullish candle.

The breakout is accompanied by a significant increase in volume (5.3M), which validates the breakout strength.

Price Movement:

The stock closed at ₹77.04, up 9.56% for the day.

This strong move above resistance suggests the beginning of a potential uptrend.

Technical Implications:
Bullish Signal: The breakout from a consolidation pattern with high volume is a classic bullish indicator.

Resistance Turned Support: The breakout level around ₹68-₹70 could now act as a support zone.

Upside Targets (based on pattern height):

Approximate height of triangle: ₹88 (peak) - ₹58 (base) = ₹30

Projected target = Breakout level (₹70) + ₹30 = ₹100 (short- to medium-term target)

Conclusion:
This is a bullish breakout setup. Traders might consider this a buy signal with potential targets around ₹90–₹100, and a stop-loss near ₹68 to manage risk.