SARLAPOLY - Cup & Handle Breakout With Fibonacci Confluence

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📊 SARLAPOLY – Cup & Handle Breakout with Fibonacci Confluence
🕰️ Timeframe: 1D | 📐 Pattern: Cup Formation + Trendline Breakout

🔍 Technical Overview:
SARLAPOLY has completed a Cup pattern and given a strong breakout above the descending trendline resistance, accompanied by a massive volume spike.

The breakout aligns well with the 61.8% Fibonacci retracement level (~₹100.94), increasing confidence in the breakout's validity.

🔑 Key Technical Levels:

🔵 Resistance / Upside Targets:
₹117.88 (Fib 78.6%)
₹120.00
₹123.68
₹125.00
₹127.90
₹132.25 (100% Fib retracement)

🔴 Support Zones:

₹101.13 (recent breakout level / Fib 61.8%)
₹94.66 (previous resistance zone – now support)
₹91.27 (Fib 50%)
₹69.07 (23.6% Fib + structure support)

📊 Volume & Indicators:

📈 Breakout Volume Surge – Volume confirmation indicates institutional interest and breakout strength.
🧮 Fibonacci Retracement – Plotted from swing low (₹50.30) to swing high (₹132.25), gives clear confluence zones.
🔺 Trendline Breakout – Downward sloping trendline broken cleanly, confirming bullish intent.
☕ Cup Formation – Classic rounding bottom visible, suggesting accumulation phase is complete.

🧠 Bias: Bullish
📉 Watch for a retest around ₹100–₹101 zone as a potential re-entry point with SL below ₹94.66 for positional swing.

⚠️ Disclaimer: This is an educational analysis and not financial advice. Always do your own research before making investment decisions.

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