Overall Trend & Structure
The stock has been in a prolonged descending channel, forming a sequence of Lower Highs (LH) and Lower Lows (LL).
Recently, the formation of Lower Lows has stopped, indicating a potential trend reversal.
Price has now broken out of the descending channel, showing early signs of bullish strength.
Breakouts & False Breakouts
Multiple false breakouts (both upward and downward) occurred earlier, showing indecision and liquidity hunts.
The recent breakout from the descending channel is the first clean breakout supported by:
Higher volumes
Strong bullish candles
This makes the breakout more reliable compared to earlier attempts.
Candlestick & Price Action
A Bullish Engulfing pattern formed near the bottom of the channel, signaling a strong reversal from demand.
Price has created Equal Lows near ~285–290, indicating a liquidity pocket that often precedes a bullish continuation.
Entry and Target
Entry upon retest of 295.00-300.00 INR. Target 1: 340.00 INR. Target 2: 396.45 INR. Condition: Sustained volume and general market strength in the infrastructure sector.
Disclaimer
This is educational analysis, not investment advice. Always manage risk and adjust position size according to your risk appetite.
The stock has been in a prolonged descending channel, forming a sequence of Lower Highs (LH) and Lower Lows (LL).
Recently, the formation of Lower Lows has stopped, indicating a potential trend reversal.
Price has now broken out of the descending channel, showing early signs of bullish strength.
Breakouts & False Breakouts
Multiple false breakouts (both upward and downward) occurred earlier, showing indecision and liquidity hunts.
The recent breakout from the descending channel is the first clean breakout supported by:
Higher volumes
Strong bullish candles
This makes the breakout more reliable compared to earlier attempts.
Candlestick & Price Action
A Bullish Engulfing pattern formed near the bottom of the channel, signaling a strong reversal from demand.
Price has created Equal Lows near ~285–290, indicating a liquidity pocket that often precedes a bullish continuation.
Entry and Target
Entry upon retest of 295.00-300.00 INR. Target 1: 340.00 INR. Target 2: 396.45 INR. Condition: Sustained volume and general market strength in the infrastructure sector.
Disclaimer
This is educational analysis, not investment advice. Always manage risk and adjust position size according to your 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.