The stock has been consolidating below a resistance level for several weeks. Today, it has given a breakout above the trendline resistance with good volume. This breakout could trigger a potential uptrend.
🔹 Target & Resistance:
Target: ₹2,654.70 (+13.49%)
Resistance Level: ₹2,654.70 (marked in purple)
🔹 Volume Confirmation:
The breakout is supported by increasing volume, indicating strong buying interest. If the stock sustains above the breakout level, we might see a strong upward move.
🔹 Trading Plan:
✅ Entry: On breakout retest or sustained move above resistance
🎯 Target: ₹2,654.70
🛑 Stop Loss: Below breakout zone
📢 Conclusion:
A successful breakout and close above this level could confirm bullish momentum. However, traders should watch for retest and price action confirmation before entering.
🔹 Target & Resistance:
Target: ₹2,654.70 (+13.49%)
Resistance Level: ₹2,654.70 (marked in purple)
🔹 Volume Confirmation:
The breakout is supported by increasing volume, indicating strong buying interest. If the stock sustains above the breakout level, we might see a strong upward move.
🔹 Trading Plan:
✅ Entry: On breakout retest or sustained move above resistance
🎯 Target: ₹2,654.70
🛑 Stop Loss: Below breakout zone
📢 Conclusion:
A successful breakout and close above this level could confirm bullish momentum. However, traders should watch for retest and price action confirmation before entering.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.