📊 **Technical Analysis: GRPLTD (Daily Timeframe)**
### 🔻 Recent Downtrend:
* The chart reflects a **clear corrective phase** with a series of lower highs and lower lows, marked by TS (Trailing Stop) labels and wave structure.
* A potential reversal is forming near a key **support zone**.
---
## 🟪 **Support Zone: 2521–2600 (Pink Box)**
* Price recently tested the **VS (Volume Spike)** zone around \₹2521.37\, which acted as a **major support**.
* A bullish reversal candle has emerged from this zone, suggesting \demand absorption\ and a possible swing low formation.
---
## 🟧 **Minor Resistance Zone: \~2680–2750**
* Price is currently testing a **supply region (orange box)**. This area could temporarily pause upside movement.
* Sustained move above this range is essential for bullish continuation.
---
## 🔵 **Upper Resistance / Target Zone: 3295–3377**
* A large untested **supply zone** lies ahead, making it a **probable swing target** if momentum sustains.
---
## 📝 **Trade Idea: Bullish Reversal in Progress**
### ✅ \Long Entry Zone:\
Around current price \₹2779–2800\, or on retest of breakout above ₹2750
### 🎯 \Targets:\
* T1: ₹2883 (recent TS3 high)
* T2: ₹3295
* T3: ₹3377
### ❌ \Stop Loss:\
Close below ₹2520 (below VS low and structure invalidation)
---
## 🧠 **Trade Logic:**
* Price structure shows a potential \ABC correction completed\.
* Strong reaction from a high-probability **Volume Spike Support** zone.
* **Higher low + break above swing structure** would confirm trend reversal.
* Conservative traders may wait for a **close above ₹2880** for confirmation.
---
## ⚠️ **Risk Management:**
* Keep strict SL as structure is still recovering from a downtrend.
* Size position based on volatility.
---
📌 **Summary:**
GRPLTD has reacted strongly from a key demand zone. If price sustains above ₹2750–2800, there is room for a bullish swing toward ₹3295+.
Ideal for \positional/swing traders\ with good risk-reward potential.
### 🔻 Recent Downtrend:
* The chart reflects a **clear corrective phase** with a series of lower highs and lower lows, marked by TS (Trailing Stop) labels and wave structure.
* A potential reversal is forming near a key **support zone**.
---
## 🟪 **Support Zone: 2521–2600 (Pink Box)**
* Price recently tested the **VS (Volume Spike)** zone around \₹2521.37\, which acted as a **major support**.
* A bullish reversal candle has emerged from this zone, suggesting \demand absorption\ and a possible swing low formation.
---
## 🟧 **Minor Resistance Zone: \~2680–2750**
* Price is currently testing a **supply region (orange box)**. This area could temporarily pause upside movement.
* Sustained move above this range is essential for bullish continuation.
---
## 🔵 **Upper Resistance / Target Zone: 3295–3377**
* A large untested **supply zone** lies ahead, making it a **probable swing target** if momentum sustains.
---
## 📝 **Trade Idea: Bullish Reversal in Progress**
### ✅ \Long Entry Zone:\
Around current price \₹2779–2800\, or on retest of breakout above ₹2750
### 🎯 \Targets:\
* T1: ₹2883 (recent TS3 high)
* T2: ₹3295
* T3: ₹3377
### ❌ \Stop Loss:\
Close below ₹2520 (below VS low and structure invalidation)
---
## 🧠 **Trade Logic:**
* Price structure shows a potential \ABC correction completed\.
* Strong reaction from a high-probability **Volume Spike Support** zone.
* **Higher low + break above swing structure** would confirm trend reversal.
* Conservative traders may wait for a **close above ₹2880** for confirmation.
---
## ⚠️ **Risk Management:**
* Keep strict SL as structure is still recovering from a downtrend.
* Size position based on volatility.
---
📌 **Summary:**
GRPLTD has reacted strongly from a key demand zone. If price sustains above ₹2750–2800, there is room for a bullish swing toward ₹3295+.
Ideal for \positional/swing traders\ with good risk-reward potential.
Trade active
2521-2574, This region represents a key support area, coinciding with the anticipated completion of the intermediate corrective Wave C structure
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.