**Tega Industries – Breakout Setup (Cup with Handle Pattern)**
**Chart Pattern Identified**:
A **Cup with Handle** formation has been identified on the daily/weekly chart of **Tega Industries**, signaling a potential bullish breakout. This classic continuation pattern typically leads to strong upward moves once the handle breakout is confirmed.
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### 🔍 **Breakout Levels and Price Targets**
1. **Primary Breakout Level – ₹1660**
* This marks the neckline of the **Cup with Handle** formation.
* A confirmed breakout and tgt ₹2,145 would validate the pattern.
(based on the measured move from the depth of the cup added to the breakout point)
2. **Secondary Breakout Level – ₹1,875**
* Acts as a **pre-breakout resistance** or consolidation level.
* A **daily or weekly close above ₹1,875** with strong volume would indicate early momentum and buyer interest.
* **Target after this level is breached**: ₹2,145 (primary breakout zone), and if sustained, an extended target of **₹2,530**.
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### 📌 **Technical Outlook**
| Level | Significance | Action |
| ------ | ------------------------ | --------------------------------------------------- |
| ₹1,875 | Secondary breakout level | Watch for strong close with volume; bullish trigger |
| ₹1660 | Cup with handle breakout | Key confirmation zone; breakout of pattern |
| ₹2,530 | Extended target | Projected move after full breakout confirmation |
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### 📈 **Trade Strategy**
* **Entry Option 1**: Anticipatory buy near ₹1,875.
* **Entry Option 2**: Breakout confirmation buy above ₹1875 with higher risk-reward toward ₹2,530.
* **Volume Confirmation**: Essential at both ₹1660 and ₹1875 levels.
* **Stop-loss**: Dynamic trailing stop-loss below handle lows or breakout support zones depending on entry.
---
### ⚠️ **Risk Management & Considerations**
* Ensure confirmation via **volume expansion** and **daily/weekly close** above key breakout zones.
* Be cautious of false breakouts, especially if moves happen on low volume or during broader market weakness.
* Monitor sectoral momentum (capital goods, engineering, or mining equipment) as it may influence breakout strength.
---
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**Chart Pattern Identified**:
A **Cup with Handle** formation has been identified on the daily/weekly chart of **Tega Industries**, signaling a potential bullish breakout. This classic continuation pattern typically leads to strong upward moves once the handle breakout is confirmed.
---
### 🔍 **Breakout Levels and Price Targets**
1. **Primary Breakout Level – ₹1660**
* This marks the neckline of the **Cup with Handle** formation.
* A confirmed breakout and tgt ₹2,145 would validate the pattern.
(based on the measured move from the depth of the cup added to the breakout point)
2. **Secondary Breakout Level – ₹1,875**
* Acts as a **pre-breakout resistance** or consolidation level.
* A **daily or weekly close above ₹1,875** with strong volume would indicate early momentum and buyer interest.
* **Target after this level is breached**: ₹2,145 (primary breakout zone), and if sustained, an extended target of **₹2,530**.
---
### 📌 **Technical Outlook**
| Level | Significance | Action |
| ------ | ------------------------ | --------------------------------------------------- |
| ₹1,875 | Secondary breakout level | Watch for strong close with volume; bullish trigger |
| ₹1660 | Cup with handle breakout | Key confirmation zone; breakout of pattern |
| ₹2,530 | Extended target | Projected move after full breakout confirmation |
---
### 📈 **Trade Strategy**
* **Entry Option 1**: Anticipatory buy near ₹1,875.
* **Entry Option 2**: Breakout confirmation buy above ₹1875 with higher risk-reward toward ₹2,530.
* **Volume Confirmation**: Essential at both ₹1660 and ₹1875 levels.
* **Stop-loss**: Dynamic trailing stop-loss below handle lows or breakout support zones depending on entry.
---
### ⚠️ **Risk Management & Considerations**
* Ensure confirmation via **volume expansion** and **daily/weekly close** above key breakout zones.
* Be cautious of false breakouts, especially if moves happen on low volume or during broader market weakness.
* Monitor sectoral momentum (capital goods, engineering, or mining equipment) as it may influence breakout strength.
---
Would you like me to generate a chart snapshot or help you set up price alerts or trading logic based on this setup?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.