Angel One – Daily Time Frame Review
The chart is showing a strong bullish structure after a breakout from a falling channel / bullish flag-type correction. Price has reclaimed momentum with good bullish candles and RSI strength.
What Looks Positive
* Breakout from the descending channel is already confirmed.
* Price is sustaining above the psychological ₹340 zone.
* RSI near 66 indicates bullish momentum is active, but not yet extremely overbought.
* Volume expansion during the recent rise supports the breakout.
Important Levels
Immediate Resistance
* ₹344–346 → Current breakout zone and near-term supply.
* ₹355–360 → Next major resistance if breakout sustains.
* Above ₹360, momentum can extend toward ₹380.
Immediate Support
* ₹334–336 → First support on dips.
* ₹320–322 → Strong breakout retest zone.
* ₹300 → Major swing support.
Trading Thoughts
Bullish Scenario
If price closes above ₹346 with volume, the move can continue toward:
* ₹355
* ₹360
* ₹380
Caution Zone
* Rejection near ₹345–346 with weak volume may lead to short-term consolidation.
* Breakdown below ₹320 would weaken the current bullish setup.
Pattern Observation
This resembles:
* Bullish Flag breakout
* Also a channel breakout continuation pattern
Both are continuation patterns generally seen in strong uptrends.
Swing Trading View
* Trend: Bullish
* Momentum: Strong
* Risk-Reward: Better on dips near support instead of chasing highs
Suggested Approach
* Aggressive entry: Above ₹346 breakout
* Safer entry: Retest near ₹334–336
* Swing stop-loss: Below ₹320 on closing basis
Disclaimer: This is only for educational purposes and not investment advice. I am not SEBI registered. Please do your own research before taking any trade.
The chart is showing a strong bullish structure after a breakout from a falling channel / bullish flag-type correction. Price has reclaimed momentum with good bullish candles and RSI strength.
What Looks Positive
* Breakout from the descending channel is already confirmed.
* Price is sustaining above the psychological ₹340 zone.
* RSI near 66 indicates bullish momentum is active, but not yet extremely overbought.
* Volume expansion during the recent rise supports the breakout.
Important Levels
Immediate Resistance
* ₹344–346 → Current breakout zone and near-term supply.
* ₹355–360 → Next major resistance if breakout sustains.
* Above ₹360, momentum can extend toward ₹380.
Immediate Support
* ₹334–336 → First support on dips.
* ₹320–322 → Strong breakout retest zone.
* ₹300 → Major swing support.
Trading Thoughts
Bullish Scenario
If price closes above ₹346 with volume, the move can continue toward:
* ₹355
* ₹360
* ₹380
Caution Zone
* Rejection near ₹345–346 with weak volume may lead to short-term consolidation.
* Breakdown below ₹320 would weaken the current bullish setup.
Pattern Observation
This resembles:
* Bullish Flag breakout
* Also a channel breakout continuation pattern
Both are continuation patterns generally seen in strong uptrends.
Swing Trading View
* Trend: Bullish
* Momentum: Strong
* Risk-Reward: Better on dips near support instead of chasing highs
Suggested Approach
* Aggressive entry: Above ₹346 breakout
* Safer entry: Retest near ₹334–336
* Swing stop-loss: Below ₹320 on closing basis
Disclaimer: This is only for educational purposes and not investment advice. I am not SEBI registered. Please do your own research before taking any trade.
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.