United Spirits Ltd. rounding bottom pattern breakout

The daily chart of United Spirits Ltd (NSE: UNITDSP) shows a strong bullish setup with a confirmed breakout from a textbook rounding bottom pattern, with the neckline resistance at ₹1,700. The breakout, accompanied by high volume, suggests bullish momentum, although the RSI at 76.54 indicates overbought conditions, hinting at a possible minor pullback or consolidation. Traders can consider an aggressive entry near ₹1,700 or wait for a potential retest around ₹1,650–₹1,680, which serves as a strong support zone. Targets for the upside include ₹1,800 in the short term and ₹1,950–₹2,000 in the medium term, based on the pattern's height projection. A stop-loss should be placed at ₹1,620 to manage risk effectively, ensuring the risk per trade remains within 1-2% of capital. While the MACD remains bullish and the breakout is confirmed, caution is advised due to the overbought RSI and potential broader market influences.