💹 Weekly Charts::
Price is consolidating around ₹1,300 after a bounce from the ₹1,150–1,180 zone (strong support zone).
Major resistance levels:
₹1,350–1,360 (R1 zone & trendline resistance)
₹1,415 (swing high and R2 zone)
Weekly RSI ~60, showing improving momentum but not yet overbought.
MACD histogram turning positive → suggests early signs of bullish momentum.
📊 Daily Charts::
Price recently broke above ₹1,244–1,250 zone, now retesting near ₹1,300–1,307 (R1 pivot resistance).
Next resistance: ₹1,350–1,360, followed by ₹1,410–1,415.
RSI ~65, bullish but near overbought → breakout confirmation is key.
ADX improving, +DI > -DI → trend strengthening.
Volume is moderate but picking up on green candles.
📈 Upside Potential::
If price sustains above ₹1,310, it can rally towards:
₹1,350–1,360 (short-term target)
₹1,415 (swing high)
Breakout above ₹1,415 on strong volume → opens potential towards ₹1,505–1,520 (weekly R2 & psychological round level).
📉 Downside / Risk Levels::
Strong support: ₹1,245–1,250 (previous breakout zone).
Deeper support: ₹1,180–1,200 (weekly support + P pivot).
If price breaks below ₹1,180, bearish momentum may resume towards ₹1,100.
✅ Conclusion
Worth initiating a long only if it sustains above ₹1,310 with good volume.
Upside potential: ~8–15% (₹1,360 to ₹1,415, and possibly ₹1,500).
Stop-loss: Below ₹1,245 on a closing basis (or tighter at ₹1,275 if risk needs to be managed).
This is a medium-term swing trade opportunity.
🛄 Disclaimer: This idea is posted solely for educational and learning purposes only and must not be construed as advice to buy or sell. Please consult your investment advisor before making any financial decision. Investments are subject to market risks.
Price is consolidating around ₹1,300 after a bounce from the ₹1,150–1,180 zone (strong support zone).
Major resistance levels:
₹1,350–1,360 (R1 zone & trendline resistance)
₹1,415 (swing high and R2 zone)
Weekly RSI ~60, showing improving momentum but not yet overbought.
MACD histogram turning positive → suggests early signs of bullish momentum.
📊 Daily Charts::
Price recently broke above ₹1,244–1,250 zone, now retesting near ₹1,300–1,307 (R1 pivot resistance).
Next resistance: ₹1,350–1,360, followed by ₹1,410–1,415.
RSI ~65, bullish but near overbought → breakout confirmation is key.
ADX improving, +DI > -DI → trend strengthening.
Volume is moderate but picking up on green candles.
📈 Upside Potential::
If price sustains above ₹1,310, it can rally towards:
₹1,350–1,360 (short-term target)
₹1,415 (swing high)
Breakout above ₹1,415 on strong volume → opens potential towards ₹1,505–1,520 (weekly R2 & psychological round level).
📉 Downside / Risk Levels::
Strong support: ₹1,245–1,250 (previous breakout zone).
Deeper support: ₹1,180–1,200 (weekly support + P pivot).
If price breaks below ₹1,180, bearish momentum may resume towards ₹1,100.
✅ Conclusion
Worth initiating a long only if it sustains above ₹1,310 with good volume.
Upside potential: ~8–15% (₹1,360 to ₹1,415, and possibly ₹1,500).
Stop-loss: Below ₹1,245 on a closing basis (or tighter at ₹1,275 if risk needs to be managed).
This is a medium-term swing trade opportunity.
🛄 Disclaimer: This idea is posted solely for educational and learning purposes only and must not be construed as advice to buy or sell. Please consult your investment advisor before making any financial decision. Investments are subject to market risks.
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.