IPO Cup BreakoutThe stock was in a prolonged downtrend with low volume, signaling weak participation during the prior phases. However, it has reversed sharply with a strong bullish candlestick, marking a significant change in trend dynamics. Notably, the stock broke out above the resistance level of its listing week's high (₹220–₹240 range) with above-average volume, signaling a potential trend reversal from bearish to bullish.
This breakout is accompanied by a substantial increase in volume, which confirms strong buying interest. The volume during the breakout week is significantly higher compared to previous weeks, indicating likely institutional participation. The combination of a breakout above key resistance levels and strong volume support adds credibility to the emerging bullish trend.
