SOUTHBANK – Breakout From Cup & Handle | Daily Chart

📊 SOUTHBANK – Breakout From Cup & Handle | RSI Bullish | High Volume | Fibonacci Levels | Daily Chart
📅 Chart Date: July 2, 2025
📍 CMP: ₹31.60 (+2.63%)
📈 Symbol: NSE:SOUTHBANK

🔍 Technical Breakdown
✅ Cup & Handle Breakout
A perfect cup & handle pattern breakout is visible
Price breaks out above the neckline at ₹31.08, which was a strong resistance zone
Breakout supported by rising volume (25.1M) adds conviction

📊 RSI Momentum
RSI (14) reading at 67.96 signals bullish strength, approaching overbought but not yet extreme
RSI crossover and previous bullish divergence helped initiate the move

📐 Fibonacci Retracement Levels (Swing: ₹22.21 to ₹36.46)
38.2% – ₹27.65
50.0% – ₹29.33
61.8% – ₹31.08 ✅ (Breakout zone)
78.6% – ₹33.41
100% – ₹36.46 🎯

🏁 Key Levels
Breakout Zone (Neckline): ₹31.08
CMP: ₹31.60
Resistance Levels: ₹33.41 → ₹36.46
Support Levels: ₹29.33 → ₹27.65

💡 Trade Idea
Entry: Above ₹31.10 on volume confirmation
SL: Below ₹29.30
Targets: ₹33.40 → ₹36.40+
Momentum + Breakout = High Conviction Setup

⚠️ Disclaimer
This analysis is for educational purposes only. Always do your own research and consult a registered advisor before investing.