Godfrey Phillips India – Major Breakout in Progress! 📌 Technical Breakdown & Swing/Positional Trade Idea
Godfrey Phillips India is currently breaking out of a 150-day broadening pattern, signalling strong bullish intent with increasing volume participation. Let’s break it down:
Key Levels & Market Structure:
Monthly Resistance Breakout (Yellow Line): The price has convincingly broken above a key monthly closing resistance, marking a shift in trend.
Supply-to-Demand Zone Flip: A critical supply zone (marked in red) was breached and is now acting as an important demand area, where buyers are likely to step in for re-entries at better prices.
Broadening Structure: The stock has followed a classic expanding range (marked by white trendlines), showing volatility compression and breakout strength.
Weekly Counter-Trendline (CT): A hidden WTF resistance line (yellow) from the weekly timeframe was also taken out, adding further confluence to the move.
Cup & Handle Breakout (Cyan Zone): A recent cup & handle breakout with strong volume clusters confirms bullish momentum.
Trading at 50-Day High: The stock is now at a new short-term high, indicating sustained strength in price action.
Glossary (For Better Understanding):
Broadening Pattern: A technical formation where price swings increase in magnitude, forming an expanding structure.
Supply-Demand Flip: A price zone that initially acted as a supply (resistance) but later turned into a demand (support) after a breakout.
Counter-Trendline (CT): A hidden trendline that acts as a resistance within a prevailing trend, often creating liquidity traps.
WTF Hidden Resistance: A key level that isn't easily visible but plays a crucial role in price reactions.
Cup & Handle Breakout: A bullish continuation pattern indicating accumulation before a breakout.
Volume Clusters: Areas where heavy trading activity occurs, often signaling accumulation or distribution zones.
🚀 Conclusion: With multiple bullish confluences, volume backing, and a clean breakout, this trade setup presents a high-probability swing & positional opportunity. However, risk management remains key!
Let me know your thoughts in the comments! Are you tracking this setup?
