SNBL gave breakout from extended WYCKOFF Accumulation Phase in July 2024 and went into uptrend, plotting a high of 20.99. Currently, it is in a Corrective Downward Channel, which is a swing pullback reaching the Fibonacci Golden Ratio of 0.618. This level is also the re-test of previous breakout for uptrend and Volume Gradient and crossing of price over 20 EMA on 1D TF confirm this scenario.
🚨 TECHNICAL BUY CALL – SNBL 🚨
🎯 BUY ZONE: Rs. 15-16.5
📈 TP1 : Rs. 17
📈 TP2 : Rs. 18
🛑 STOP LOSS: BELOW Rs. 13.5 (Daily Close)
📊 RISK-REWARD: Medium Conviction | 1:2.25
Caution: Please buy in 3 parts in buying range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
🚨 TECHNICAL BUY CALL – SNBL 🚨
🎯 BUY ZONE: Rs. 15-16.5
📈 TP1 : Rs. 17
📈 TP2 : Rs. 18
🛑 STOP LOSS: BELOW Rs. 13.5 (Daily Close)
📊 RISK-REWARD: Medium Conviction | 1:2.25
Caution: Please buy in 3 parts in buying range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
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.