Breakout Alert: The stock has successfully broken out of a consolidation zone with strong bullish momentum.
Trend: It is in a clear uptrend, trading above both the 50 DMA and 200 DMA, indicating sustained strength.
Volume: The breakout is backed by significant volume, adding confidence to the move.
CMP565
Key Levels to Watch:T1 (Target 1): ₹596
T2 / ATH (All-Time High): ₹642
Stop Loss (SL): ₹491 (on a closing basis)
Watch if the stock is breaking ATH with good volume and wide range candle for fresh entry or adding to existing positions.
Risk Management: Consider the broader market trend while positioning. Use proper position sizing to manage risk.
Disclaimer: This analysis is for informational purposes only. Please do your own research before making any trades.
Trade closed: stop reached
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Disclaimer
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Related publications
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.