The setup is based on a support-zone retest, with the broader structure offering a favourable risk-to-reward opportunity. A sustained hold above the entry region near ₹3,200 could open the path toward the next major resistance and projected target around ₹3,660.
Trade plan
Entry: ₹3,200
Stop-loss: ₹3,128.50
Target: ₹3,660
Risk: ₹71.50 per share
Potential reward: ₹460 per share
Approximate risk-to-reward ratio: 1:6.4
The trade becomes more attractive if price forms a bullish reversal candle, reclaims the short-term moving average, and sustains above the nearby resistance zone. However, a decisive close below ₹3,128.50 would invalidate the setup and indicate weakness in the demand area.
Trade plan
Entry: ₹3,200
Stop-loss: ₹3,128.50
Target: ₹3,660
Risk: ₹71.50 per share
Potential reward: ₹460 per share
Approximate risk-to-reward ratio: 1:6.4
The trade becomes more attractive if price forms a bullish reversal candle, reclaims the short-term moving average, and sustains above the nearby resistance zone. However, a decisive close below ₹3,128.50 would invalidate the setup and indicate weakness in the demand area.
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.