📊 SOUTHBANK – Breakout From Cup & Handle | RSI Bullish | High Volume | Fibonacci Levels | Daily Chart
📅 Chart Date: July 2, 2025
📍 CMP: ₹31.60 (+2.63%)
📈 Symbol: NSE:SOUTHBANK
🔍 Technical Breakdown
✅ Cup & Handle Breakout
A perfect cup & handle pattern breakout is visible
Price breaks out above the neckline at ₹31.08, which was a strong resistance zone
Breakout supported by rising volume (25.1M) adds conviction
📊 RSI Momentum
RSI (14) reading at 67.96 signals bullish strength, approaching overbought but not yet extreme
RSI crossover and previous bullish divergence helped initiate the move
📐 Fibonacci Retracement Levels (Swing: ₹22.21 to ₹36.46)
38.2% – ₹27.65
50.0% – ₹29.33
61.8% – ₹31.08 ✅ (Breakout zone)
78.6% – ₹33.41
100% – ₹36.46 🎯
🏁 Key Levels
Breakout Zone (Neckline): ₹31.08
CMP: ₹31.60
Resistance Levels: ₹33.41 → ₹36.46
Support Levels: ₹29.33 → ₹27.65
💡 Trade Idea
Entry: Above ₹31.10 on volume confirmation
SL: Below ₹29.30
Targets: ₹33.40 → ₹36.40+
Momentum + Breakout = High Conviction Setup
⚠️ Disclaimer
This analysis is for educational purposes only. Always do your own research and consult a registered advisor before investing.
📅 Chart Date: July 2, 2025
📍 CMP: ₹31.60 (+2.63%)
📈 Symbol: NSE:SOUTHBANK
🔍 Technical Breakdown
✅ Cup & Handle Breakout
A perfect cup & handle pattern breakout is visible
Price breaks out above the neckline at ₹31.08, which was a strong resistance zone
Breakout supported by rising volume (25.1M) adds conviction
📊 RSI Momentum
RSI (14) reading at 67.96 signals bullish strength, approaching overbought but not yet extreme
RSI crossover and previous bullish divergence helped initiate the move
📐 Fibonacci Retracement Levels (Swing: ₹22.21 to ₹36.46)
38.2% – ₹27.65
50.0% – ₹29.33
61.8% – ₹31.08 ✅ (Breakout zone)
78.6% – ₹33.41
100% – ₹36.46 🎯
🏁 Key Levels
Breakout Zone (Neckline): ₹31.08
CMP: ₹31.60
Resistance Levels: ₹33.41 → ₹36.46
Support Levels: ₹29.33 → ₹27.65
💡 Trade Idea
Entry: Above ₹31.10 on volume confirmation
SL: Below ₹29.30
Targets: ₹33.40 → ₹36.40+
Momentum + Breakout = High Conviction Setup
⚠️ Disclaimer
This analysis is for educational purposes only. Always do your own research and consult a registered advisor before investing.
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.