CMP: ₹65.86
Trend: Strong uptrend in the making — price is forming higher lows and heading towards an important breakout level.
Technical Insights:
✅ Resistance Test: Price is testing a well-entrenched horizontal resistance of ₹66–₹67.
✅ Trendline Support: A strong rising trendline is seen on the hourly chart, reflecting consistent buying pressure as price rises.
✅ Volume Profile (SVP): High accumulated volume at this level, implying significant interest and a probable breakout setup.
✅ Momentum (RSI): RSI at 69.66, close to overbought but still with some room to appreciate further. This shows healthy bullish momentum.
Targets & Stop-Loss:
First Target: ₹70
Second Target: ₹75+ (as anticipated move after the breakout)
Stop-loss: ₹61.3 — positioned below the swing low and key support level to control risk.
Outlook:
If the stock is able to close above ₹66–₹67 with higher volume, it will validate the breakout and open the doors for the expected targets. With the pattern of ascending triangle and current momentum strength, a move towards ₹75+ is very likely.
⚠️ Disclaimer:
This is my own technical analysis. Do your own research and take care of your risk before making any trade.
Trend: Strong uptrend in the making — price is forming higher lows and heading towards an important breakout level.
Technical Insights:
✅ Resistance Test: Price is testing a well-entrenched horizontal resistance of ₹66–₹67.
✅ Trendline Support: A strong rising trendline is seen on the hourly chart, reflecting consistent buying pressure as price rises.
✅ Volume Profile (SVP): High accumulated volume at this level, implying significant interest and a probable breakout setup.
✅ Momentum (RSI): RSI at 69.66, close to overbought but still with some room to appreciate further. This shows healthy bullish momentum.
Targets & Stop-Loss:
First Target: ₹70
Second Target: ₹75+ (as anticipated move after the breakout)
Stop-loss: ₹61.3 — positioned below the swing low and key support level to control risk.
Outlook:
If the stock is able to close above ₹66–₹67 with higher volume, it will validate the breakout and open the doors for the expected targets. With the pattern of ascending triangle and current momentum strength, a move towards ₹75+ is very likely.
⚠️ Disclaimer:
This is my own technical analysis. Do your own research and take care of your risk before making any trade.
交易進行
Entry: 64.16
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。