JUBILANT INGREVIA LTD (JUBILANT) Near Breakout

JUBILANT INGREVIA LTD (JUBILANT) appears to have completed a Cup and Handle pattern. This bullish pattern suggests a potential upward breakout after a period of consolidation.

The increasing volume and RSI above 50 confirm the bullish sentiment.

Entry, Target, and Stop-Loss

Entry:
Breakout: Wait for the price to break above the neckline of the cup and handle pattern with increasing volume. This confirms the bullish breakout.
Around - 766

Target:

Measured Move: A potential target could be based on the height of the cup and handle pattern. Measure the vertical distance from the bottom of the cup to the neckline and project that distance upward from the breakout point.

Stop-Loss:

Swing Low: Place a stop-loss below the handle, around ₹690.