HERITGFOOD - Cup & Handle Breakout with RSI Confirmation | Daily

5 Haz

📊 HERITAGE FOODS LTD (HERITGFOOD) – Cup & Handle Breakout with RSI Confirmation | Daily Chart
📅 Chart Date: June 5, 2025
📈 CMP: ₹446.10 (+5.94%)
📍 Ticker: NSE:HERITGFOOD

🔍 Technical Analysis Overview
☕ Cup & Handle Pattern Breakout
HERITGFOOD has successfully broken out of a Cup & Handle pattern, signaling the end of a long downtrend and a potential start of a new bullish wave. The breakout zone lies around ₹435–₹440.

💥 Breakout Volume: Supported by a strong surge in volume (~1.32M), adding conviction to the breakout.

📉 RSI Indicator:
RSI is at 69.30, just below overbought territory, indicating strong momentum.
RSI crossover above signal line confirms bullish strength.

📍 Key Price Levels
✅ Breakout Zone: ₹435–₹440
🚀 Upside Targets (based on pattern projection and past resistance):
₹470 – minor resistance
₹510 – medium-term swing target
₹550+ – extended target if momentum sustains

🛡️ Support Levels:
₹435 – breakout retest zone
₹415 – minor base
₹390 – handle bottom (critical invalidation)

🔻 Stop Loss Zone: Below ₹415–₹420 for risk-managed swing positions

🛠️ Trading Strategy
Entry: After confirmation candle above ₹440 or on pullback to retest breakout zone
Stop Loss: Below ₹415
Targets: ₹470 → ₹510 → ₹550+

Risk/Reward: Attractive R:R setup with confirmation indicators

⚠️ Disclaimer
This chart is for educational and analysis purposes only. Please consult a SEBI-registered financial advisor before taking any trading decision.

6 Haz

İşlem kapandı: hedefe ulaştı

The first resistance level has been touched. If the trend is to continue, it's important to follow a trailing stop-loss strategy and patiently wait for the price to approach the second resistance level.