Trading Idea: EMudhra Ltd
📊 Pattern Formation:
eMudhra Ltd is showing a retest of a breakout level, confirming support at the previous resistance zone.
The stock is trading above the key EMAs (20, 50, and 200), suggesting continued bullish momentum.
💡 Entry Zone:
A bounce from the current level (₹932) provides a buying opportunity.
🎯 Target:
Upside target around ₹1,001, based on the measured move from the breakout.
🛑 Stop Loss:
Stop-loss set at ₹912, below the key support zone, to minimize risk.
📈 Volume Confirmation:
Watch for rising volumes on the upward move to validate the setup.
⚖️ Risk-to-Reward Ratio:
This trade offers a favorable 3:1 risk-to-reward ratio.
eMudhra Ltd is showing a retest of a breakout level, confirming support at the previous resistance zone.
The stock is trading above the key EMAs (20, 50, and 200), suggesting continued bullish momentum.
💡 Entry Zone:
A bounce from the current level (₹932) provides a buying opportunity.
🎯 Target:
Upside target around ₹1,001, based on the measured move from the breakout.
🛑 Stop Loss:
Stop-loss set at ₹912, below the key support zone, to minimize risk.
📈 Volume Confirmation:
Watch for rising volumes on the upward move to validate the setup.
⚖️ Risk-to-Reward Ratio:
This trade offers a favorable 3:1 risk-to-reward ratio.
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