EDELWEISS Made Beautiful Chart Structure today Before Q4 Results with Good Price and Volume action.Today's Price Action:
- The stock has been in a clear downtrend since December 2024, forming a descending resistance line (white trendline)
- Recently broke above this major downtrend line with strong momentum
- Current price at ₹86.44, up 5.50 points (+6.80%) in today's session
- The stock appears to have formed a Double bottom Pattern around the ₹75 levels, confirming a potential reversal
Volume Analysis:
- Volume spike visible in today's session (13.85M shares traded)
- The previous volume averaged around 5.6M shares
- This high-volume breakout suggests strong buying conviction
- Volume confirms the price movement, adding credibility to the breakout
Key Supports and Resistances:
- Strong resistance zone at ₹87-90 (previous consolidation area marked by red horizontal line)
- Key support established at ₹75-77 (green horizontal line)
- Previous support at ₹86-87 may now act as resistance that needs to be cleared decisively
Trade Setup:
Entry Points:
1. Aggressive Entry: Current level (₹86.44) with partial position size
2. Conservative Entry: On breakout confirmation above ₹90 with closing price
3. Pullback Entry: If price retraces to the ₹82-83 range (previous breakout level)
Exit Strategy:
- Target 1: ₹95 (first resistance level)
- Target 2: ₹105 (previous support turned resistance)
- Target 3: ₹115-120 (major resistance zone from January-February 2025)
- Trailing Stop: Consider implementing a 5% trailing stop after achieving Target 1
Stop Loss Placement:
- Aggressive Stop: Below today's low (approximately ₹82)
- Conservative Stop: Below the green support line at ₹75
- Double Bottom Pattern-Based Stop: Below ₹73
Risk Management:
- Position sizing: Limit to 1-2% risk of total capital per trade
- Risk-reward ratio: Minimum 1:1 for aggressive entry, 1:1.5 for conservative entry
- Consider scaling out of position at each target level (e.g., 33% at each target)
The improved price action comes after several months of decline, with the potential Double Bottom pattern suggesting a possible trend reversal if completed successfully.
Keep in the Watchlist.
NO RECO. For Buy/Sell.
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Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
註釋
Good Start, Buying Interest註釋
Couldn't Sustain the Supply made a big wick註釋
Followed the big wick with 2% Down Move交易進行
Up 18% from RECO.Target 1: ₹95 (first resistance level) reached.
Swing Traders Can Book.
Consider scaling out of position at each target level (e.g., 33% at each target)
交易結束：目標達成
Target 3: ₹115-120 (major resistance zone from January-February 2025) Reached
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