Description
⋅ Analysis:
Current Price: ₹1107.45
Breakout: Price recently broke above a resistance level at ₹1040.60 (marked by the yellow line on the chart).
Long Entry:
Confirmation: If the price sustains above the breakout level (₹1040.60), a long position can be considered.
Alternative Entry:
Pullback: If the price pulls back and finds support at the previous resistance level (now turned support - we can enter a long position here.
Stop Loss:
A stop-loss can be placed below the previous resistance level (turned support) for added protection.
Target:
The target price can be determined based on technical analysis indicators or profit goals.
Overall Bias:
The breakout suggests a potential bullish trend.
Important Note:
This is just an idea based on the information provided. It's important to conduct your own research and analysis before making any trading decisions.