JYOTISTRUC -Multiyear BreakOut- Wkly -Cup and Handle

The Jyoti Structures Ltd. (JYOTISTRUC) chart you provided indicates a cup and handle pattern. This is a bullish continuation pattern, often signaling further upward momentum after a period of consolidation. The setup on this weekly chart is as follows:

The cup portion shows a rounded bottom that has formed over a long period, spanning several years from 2015 to 2023, reflecting a reversal of the downtrend that began around 2015.
The handle portion represents the current consolidation phase after the stock attempted to break above the ₹32.53 level, which is acting as a resistance zone.
The breakout point for the cup and handle pattern is around ₹32.53. If the stock price closes above this resistance level with significant volume, it could confirm a breakout, leading to further gains.
The height of the cup (around ₹31.48) from its low suggests a potential target of doubling the price from the breakout point, which could push the stock towards the ₹60-65 range.
A sustained increase in trading volume further supports the bullish outlook, indicating growing investor interest.
However, a failed breakout or drop below the handle's lower support near ₹24.11 could invalidate the pattern and lead to a pullback. Keep an eye on the breakout confirmation before making decisions.