VA TECH WABAG LTD (NSE: WABAG) is about to break to the upside

Right now, it is completing a descending trendline breakout, which is a bullish pattern.

The stock has been consolidating for the past 4 months in a corrective phase and is now attempting a strong breakout.

All important levels have been marked on the chart.

Looking at the chart, we can say that if the price sustains above the breakout level, there is a high probability that the stock will reach the ₹1,922 target.

For the past few days, volume has also been quite good. If we enter the stock at ₹1,463, we can achieve the target with
Risk: Reward :: 1 : 2.63.

Support Levels:
🔹 ₹1,315 – Strong support zone
🔹 ₹1,182 – 50% Fibonacci retracement support
🔹 ₹1,007 – 61.8% Fibonacci support level (Golden Ratio)

Resistance Levels:
🔹 ₹1,482 – Immediate breakout level
🔹 ₹1,573 – Fibonacci 23.6% retracement resistance
🔹 ₹1,922 – Final target zone

Reasons:
✅ Consolidation for 4 months, leading to a strong breakout setup
✅ Descending Trendline Breakout
✅ Support at ₹1,315 holding strong
✅ Wait for RSI to cross 65 for confirmation
✅ Successful breakout attempt after a corrective phase
✅ High volume surge, indicating strong buying interest
✅ Price > 50-day & 200-day EMA (bullish signal)

Verdict:
Bullish

Plan of Action:
Enter once the breakout is confirmed to the upside.

BUY: ₹1,463
Stoploss: ₹1,315
Target: ₹1,922
Trailing SL: ₹50