Gandhar Oil Refinery (Weekly Chart Setup)**
**Observation:**
The stock has recently crossed back above its **IPO price of ₹169** with strong volume. It is also trading above the **20-week SMA (₹162)**, showing strength and possible trend reversal from the bottom. The recent green candles with volume suggest accumulation and possible VCP breakout.
---
### **Simple Trading Plan**
🔹 **Pattern:** VCP (Volatility Contraction Pattern)
🔹 **Setup:** Strong breakout above IPO price (₹169) after a long base
🔹 **Timeframe:** Weekly
🔹 **Entry:** ₹172 – ₹175 zone (current price)
🔹 **Stop Loss (SL):** ₹160 (below moving average and base support)
🔹 **Target 1:** ₹205
🔹 **Target 2:** ₹235
🔹 **Risk-Reward:** 1 : 2 (Good setup for swing trade)
---
### **Why this setup is good?**
* Price reclaimed IPO level after long consolidation
* Volume is rising with price – sign of strong buyers
* Stock is trending above key moving average (20-week SMA)
* SL is tight below base and moving average – helps control risk
---
*Risk Management
Only buy if stock stays above ₹169 with good volume. If it breaks down below ₹160, exit the trade without hesitation.
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.
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.