IPCA Laboratories – Weekly Technical Analysis

📈 IPCA Laboratories – Weekly Technical Analysis (For Study Purpose Only)

Ipca Labs has successfully completed a Cup and Handle breakout on the weekly chart, indicating a strong bullish setup after a prolonged consolidation phase.

After forming a double top and undergoing a nearly 6-month consolidation, the stock recently broke out above the neckline and range of ₹1320–₹1510, followed by a textbook retest of the breakout zone, which further strengthens the breakout's validity.

🔍 Key Technical Highlights:

✅ Pattern Formed: Weekly Cup and Handle retest and 6 month range breakout

📉 Previous Structure: Double top ➜ breakdown ➜ 6-month range consolidation

🔼 Breakout & Retest Zone: ₹1320–₹1510

✅ Retest Completed: Confirmed on weekly chart with supportive volume and price stability

🎯 Upside Targets:

Short-term: ₹1600

Medium-term: ₹1700

Long-term: New All-Time High (above ₹1750+)

🛑 Risk Management:

Stop-Loss: ₹1480 or (below retest zone)

📊 Supporting Indicators:

RSI trending upward, currently above 60 (bullish zone)

MACD crossover confirms positive momentum

Volume confirms strength during breakout

📌 Disclaimer: This analysis is for educational and study purposes only. Not a buy/sell recommendation.