CHOLAFIN – Cup & Handle Reformation | Setup in Progress

CHOLAFIN is re-forming a higher timeframe Cup & Handle pattern after a failed breakout attempt in July. The broader base now spans from late 2024, showing improved symmetry and structural maturity. This is a classic example of a breakout setup resetting through time.

Pattern Details

• Pattern: Cup & Handle (reformed)
  
• Neckline / Breakout Level: ₹1641.15
  
• Current Price: ₹1581.10
  
• Target (if breakout holds): ₹1641 + ₹482 = ₹2123
  
• Upside Potential: ~29%
  
• Volume: Needs breakout-day confirmation (>2x 20-day avg)
  
• RSI: 57.2 – healthy, approaching 60
  

Setup Bias

• Not a buy yet — structure is constructive but needs confirmation
  
• Watch for daily/weekly close above ₹1645 with volume support
  
• Prior failure adds caution, but also strengthens credibility on second attempt
  

Disclaimer
This post is for educational and informational purposes only. It is not a recommendation to buy, sell, or hold any securities. Technical chart patterns involve inherent risk and are not guarantees of future performance. Traders must use their own discretion, manage risk appropriately, and consult with a SEBI-registered financial advisor if needed.