Big Volume. Big Breakout. KRISHANA PHOSCHEM Sets New Tone!📌 Pattern Observed:
Breakout above major horizontal resistance zone between ₹303–₹320, which had acted as a ceiling for the past 2 years. The breakout candle is strong and bullish, suggesting a clear change in market structure. This setup confirms a multi-year base breakout, a bullish continuation pattern often followed by sustained uptrends.
📈 Volume Analysis:
Volume surged to 3.56M during the breakout, the highest in over 2 years. This spike in volume during a breakout signals institutional accumulation and validates the price action strength.
💹 Price Action:
The stock closed the week at ₹338.35, gaining +16.41% from the previous close. The breakout candle has a long bullish body and closed near the high of the week, suggesting strong demand and minimal profit booking. The price moved from a low of ₹291.80 to a high of ₹353.25 in one week.
🔁 Support & Resistance:
Immediate Support Zone: ₹303.10–₹320 (previous resistance turned support)
Next Resistance Levels: ₹370–₹390 (historical upper wick zones), ₹420+ (long-term level if rally sustains)
📊 Indicators & Momentum (Visual):
No indicators plotted on the chart, but price structure shows strong upside momentum.
Volume and candle strength serve as key bullish indicators.
📌 Observations:
Price successfully broke a long consolidation range.
Strong uptrend has resumed after a prolonged downtrend and accumulation phase.
Structure suggests potential for a new higher high formation in the coming weeks.
✅ Conclusion / Trade Plan:
Bias: Strongly Bullish
Entry Zone: ₹320–₹330 (on pullback)
Stop Loss: Below ₹300
Targets: ₹370 (short-term), ₹420+ (mid-term)
