SBIN - Inverted Head and Shoulder - BreakOut- Daily

The chart clearly depicts Inverted Head and Shoulders (H&S)**, which is a **bullish reversal pattern**. Here's the updated analysis for **SBIN (State Bank of India)**:

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### 🧠 **Pattern Recognition: Inverted Head & Shoulders**

- **Left Shoulder**: Formed in **early February 2025**
- **Head**: Deeper low formed in **early March 2025**
- **Right Shoulder**: Higher low formed in **early April 2025**
- **Neckline**: Around **₹785**, which has just been **broken on strong volume**

This pattern often marks the end of a **downtrend** and the beginning of an **uptrend**.

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### 📏 **Measured Move Target**
- Neckline Breakout Level: ₹785
- Depth (Head to Neckline): ₹104.75
- **Target = ₹785 + ₹104.75 = ₹889.75**, which aligns almost exactly with the marked level of **₹888.90**

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### 🔍 **Volume Confirmation**
- Volume has **increased notably** on the breakout candle, which is a **key confirmation signal** for H&S patterns.

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### 🧱 **Support and Resistance**
- **Breakout support (neckline)**: ₹785
- **Next resistance levels**: ₹888.90 → ₹912
- **Downside support zones**: ₹775, ₹680 (head base), and major at ₹620.70

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### 📌 **Summary**
- ✅ **Inverted Head & Shoulders** pattern confirmed
- ✅ Breakout above neckline with volume = bullish
- 🎯 **Target**: ₹889 (approx 11.5% upside from breakout)
- 🔄 Watch for potential retest at ₹785 for a low-risk entry

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