KARURVYSYA Swing Trading Setup1. Trend Analysis
• The stock appears to be in a consolidation phase with an upward bias as evident from the trendline support and recent breakouts.
• There is resistance around the ₹232-₹236 level, as indicated on the chart.
2. Entry Setup
• Long Entry: Consider entering a long position if the price sustains above the ₹236 resistance level with good volume. Confirmation with a strong bullish candle breaking through resistance would further strengthen the setup.
• Alternative Buy Zone: If the stock retraces to the support region around ₹218-₹220 and shows signs of a reversal (e.g., bullish candlestick patterns or increasing volumes), it could provide a better risk-reward entry for a swing trade.
3. Stop Loss
• Place a stop loss below ₹218 to protect your position in case of a trend reversal or a strong bearish move.
4. Profit Target
• Initial Target: Aim for ₹245-₹250 levels, which is the next potential resistance and psychological level.
• Second Target: If the momentum continues, ₹260 could act as a secondary target.
5. Indicators Confirmation
• RSI: The RSI indicates moderate strength, which is not overbought, suggesting room for an upside move.
• Volume: Ensure that any breakout is confirmed with higher-than-average volume for a more reliable trade.
6. Monitoring and Adjustments
• Adjust the stop loss to breakeven once the first target is hit.
• Monitor for signs of reversal or consolidation, which could indicate a potential exit or pause in the move.
Disclaimer : The information provided is for educational and informational purposes only and should not be considered as financial advice, investment advice, or a recommendation to buy or sell any securities. Trading and investing involve significant financial risk, and you should consult with a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results. You are solely responsible for your trading decisions and any losses or gains you may incur. Always conduct your own research and analysis before executing trades.
