PREMEXPLN - Daily Chart - Cup and Handle

PREMIER EXPLOSIVES LTD (PREMEXPLN) daily chart.

**cup and handle** pattern, suggesting potential bullish continuation.

Here's a simple breakdown:

* **Cup:** The rounded bottom formation appears to have taken place between roughly early January and late April 2025. This indicates a period of consolidation after a decline.

* **Handle (Potential):** After reaching a high around ₹480, the price has pulled back and is now showing signs of consolidating again in a smaller range (the potential handle) in early May 2025.

* **Breakout Level:** The horizontal line you've drawn around ₹480 acts as the potential neckline or resistance. A decisive break above this level would provide further confirmation of the pattern.

* **Target:** You've marked a potential target around ₹652.50. This target is typically estimated by measuring the depth of the cup and adding it to the breakout level.

**Things to watch out for:**

* **Handle Formation:** Observe if the current consolidation indeed forms a handle—a smaller, ideally slightly downward-sloping or sideways movement.
* **Breakout :** We need to see if it retests 480 and bounce it is a strong buy.
* **Volume on Breakout:** Increased volume on the breakout it is strength to the bullish signal.