FACT Good Volume to note

83
๐Ÿ“Š Chart Summary (Daily โ€“ D1)
Metric Value
๐Ÿ“ˆ CMP โ‚น976.45
๐Ÿ”บ Dayโ€™s Gain +โ‚น72.20 (+7.98%)
๐Ÿ“Š Volume 8.52M (strong volume spike)
๐Ÿ”ป Recent Pullback -7.06% over 12 days
๐Ÿ”บ Recent Surge Broke 12-day range downtrend
๐Ÿ“Œ Pattern Formed Falling wedge breakout (bullish)

๐Ÿ” Technical Analysis Highlights
โœ… Bullish Falling Wedge Breakout: The stock was in a 12-day falling wedge (marked), which is typically a bullish continuation pattern. Price broke out convincingly.

๐Ÿ”ผ Entry Region Marked Smartly: The breakout candle with volume aligns perfectly with the entry box shown around โ‚น940โ€“โ‚น960.

๐Ÿ“ฆ Volume Confirmation: Surge in volume post breakout confirms buyer strength and institutional activity.


๐Ÿ“Œ Target Zone: From risk-reward setup (1.5x), target is around โ‚น1030โ€“โ‚น1050 area.

๐Ÿ“‰ Previous Resistance: Some resistance likely near โ‚น1000 psychological level and again around โ‚น1050โ€“โ‚น1070.

๐Ÿง  Strategy Summary
Element Value
๐ŸŽฏ Target 1 โ‚น1030โ€“โ‚น1050
๐Ÿ›‘ Stop Loss โ‚น920 (below wedge breakout low)
๐Ÿ›’ Re-entry Zone โ‚น940โ€“โ‚น960 (on any minor pullback)
โš–๏ธ Risk-Reward ~1:1.5+

โœ… Observations & Guidance
This is a clean, well-defined setup with high probability.

Volume > price = confirmation of institutional activity.

Suggest booking partial gains near target and trail the rest

Any retest to wedge zone or โ‚น940โ€“โ‚น960 can be a fresh opportunity.

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.