Chart Breakdown
Trend: Strong Structural Bullish Trend (Higher Highs & Higher Lows)
Pattern / Trigger: Successful Support-Resistance Flip (SR Flip) + Bounce off the Ascending Trendline Channel with volume confirmation.
Volume: Spike in green volume during the recovery from the ₹9,800–₹10,000 zone indicates active institutional buying.
🎯 Key Levels & Trade Setup
Current Market Price (CMP): ₹11,215
Ideal Accumulation / Buy Zone: ₹10,400 – ₹10,800 (on dips) or CMP for momentum play
Stop Loss (SL): ₹9,750 (Daily Closing Basis — below channel & SR support zone)
Targets (TGT):
Target 1: ₹11,900 (Intermediate Resistance / Psychological Level)
Target 2: ₹12,600 (Major Supply Zone)
Target 3: ₹12,800 (Upper Resistance Band)
🔍 Technical Rationale
SR Flip Zone: The previous horizontal resistance around ₹9,800 – ₹10,200 has now converted into strong structural demand.
Channel Confluence: Price respected the long-term green trendline channel and resumed its upward trajectory.
Risk to Reward (R:R): Favorable R:R ratio targeting the upper red supply block near ₹12,600–₹12,800.
Disclaimer: Educational analysis only. Manage risk strictly based on your individual risk appetite.
Trend: Strong Structural Bullish Trend (Higher Highs & Higher Lows)
Pattern / Trigger: Successful Support-Resistance Flip (SR Flip) + Bounce off the Ascending Trendline Channel with volume confirmation.
Volume: Spike in green volume during the recovery from the ₹9,800–₹10,000 zone indicates active institutional buying.
🎯 Key Levels & Trade Setup
Current Market Price (CMP): ₹11,215
Ideal Accumulation / Buy Zone: ₹10,400 – ₹10,800 (on dips) or CMP for momentum play
Stop Loss (SL): ₹9,750 (Daily Closing Basis — below channel & SR support zone)
Targets (TGT):
Target 1: ₹11,900 (Intermediate Resistance / Psychological Level)
Target 2: ₹12,600 (Major Supply Zone)
Target 3: ₹12,800 (Upper Resistance Band)
🔍 Technical Rationale
SR Flip Zone: The previous horizontal resistance around ₹9,800 – ₹10,200 has now converted into strong structural demand.
Channel Confluence: Price respected the long-term green trendline channel and resumed its upward trajectory.
Risk to Reward (R:R): Favorable R:R ratio targeting the upper red supply block near ₹12,600–₹12,800.
Disclaimer: Educational analysis only. Manage risk strictly based on your individual risk appetite.
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.