ICICIPRULI – IHNS + Cup & Handle Confluence Breakout Setup
DESCRIPTION:
ICICI Prudential has developed a bullish reversal structure with strong pattern confluence.
The chart highlights an Inverse Head & Shoulders pattern:
Left Shoulder and Right Shoulder forming higher lows
A deeper Head marking final seller exhaustion
A down-sloping neckline acting as breakout level
At the same time, the right shoulder forms a Cup & Handle style consolidation, indicating strong absorption of supply.
The rising support trendline continues to protect price, showing demand strengthening with each higher low.
A decisive breakout above the neckline can activate the combined bullish targets, with a measured objective of ~₹47.90 (≈7.6%) as marked on the chart.
Pattern Confluence Advantages:
IHNS → Major trend reversal signal
Cup & Handle → Breakout continuation power
Rising support → Strong buyer presence
Neckline breakout → Momentum confirmation
A successful breakout may trigger an upside move toward the ₹675–690 zone.
ICICI Prudential has developed a bullish reversal structure with strong pattern confluence.
The chart highlights an Inverse Head & Shoulders pattern:
Left Shoulder and Right Shoulder forming higher lows
A deeper Head marking final seller exhaustion
A down-sloping neckline acting as breakout level
At the same time, the right shoulder forms a Cup & Handle style consolidation, indicating strong absorption of supply.
The rising support trendline continues to protect price, showing demand strengthening with each higher low.
A decisive breakout above the neckline can activate the combined bullish targets, with a measured objective of ~₹47.90 (≈7.6%) as marked on the chart.
Pattern Confluence Advantages:
IHNS → Major trend reversal signal
Cup & Handle → Breakout continuation power
Rising support → Strong buyer presence
Neckline breakout → Momentum confirmation
A successful breakout may trigger an upside move toward the ₹675–690 zone.
SiripiVenu
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SiripiVenu
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.