KRBL LTD – Falling Wedge Breakout 💥 | Trend Reversal Signal Ahead?
📅 Published on: April 17, 2025
📈 Technical Analysis:
KRBL has shown a bullish breakout from a long-term falling wedge pattern on the daily chart — a classic reversal pattern signalling a potential upward move after prolonged consolidation. The breakout candle is supported by strong volume and a bullish RSI setup.
Pattern: Falling Wedge (Bullish)
Breakout Price: ₹306.60
Previous Resistance Line: Now acting as support
Breakout Volume: 1.45M (above average)
🧭 Key Support & Resistance Levels:
Immediate Support: ₹290
Major Support: ₹275
Immediate Resistance: ₹315
Next Resistance Zone: ₹330 – ₹345
Trendline Resistance (Broken): ₹300 (now support)
🔍 Indicators:
RSI (Relative Strength Index):
Current RSI: 66.39 — bullish, nearing overbought zone, shows strong momentum.
RSI Bullish Crossover observed in April, indicating accumulation before breakout.
🧠 Price Action Observations:
Price respected the wedge formation since March 2024.
A strong bullish candle broke above the upper wedge with conviction.
RSI confirms strength, aligning with price action breakout.
Volume surge supports the breakout's validity.
📌 Strategy (For Educational Purposes):
Entry: ₹305–310 (on retest)
Stop Loss: ₹285 (below wedge support)
Targets:
₹330
₹345
₹360+
📊 Visual Markings & Icons:
White Trendlines: Highlighting falling wedge support and resistance.
Bullish RSI Tags: Marking key bullish RSI crossovers.
Volume Spikes: Notable on breakout day.
Breakout Candle: Large green candle breaching the upper wedge line.
⚠️ Disclaimer:
This analysis is for educational and informational purposes only. Please consult your financial advisor before making any trading decisions.
📅 Published on: April 17, 2025
📈 Technical Analysis:
KRBL has shown a bullish breakout from a long-term falling wedge pattern on the daily chart — a classic reversal pattern signalling a potential upward move after prolonged consolidation. The breakout candle is supported by strong volume and a bullish RSI setup.
Pattern: Falling Wedge (Bullish)
Breakout Price: ₹306.60
Previous Resistance Line: Now acting as support
Breakout Volume: 1.45M (above average)
🧭 Key Support & Resistance Levels:
Immediate Support: ₹290
Major Support: ₹275
Immediate Resistance: ₹315
Next Resistance Zone: ₹330 – ₹345
Trendline Resistance (Broken): ₹300 (now support)
🔍 Indicators:
RSI (Relative Strength Index):
Current RSI: 66.39 — bullish, nearing overbought zone, shows strong momentum.
RSI Bullish Crossover observed in April, indicating accumulation before breakout.
🧠 Price Action Observations:
Price respected the wedge formation since March 2024.
A strong bullish candle broke above the upper wedge with conviction.
RSI confirms strength, aligning with price action breakout.
Volume surge supports the breakout's validity.
📌 Strategy (For Educational Purposes):
Entry: ₹305–310 (on retest)
Stop Loss: ₹285 (below wedge support)
Targets:
₹330
₹345
₹360+
📊 Visual Markings & Icons:
White Trendlines: Highlighting falling wedge support and resistance.
Bullish RSI Tags: Marking key bullish RSI crossovers.
Volume Spikes: Notable on breakout day.
Breakout Candle: Large green candle breaching the upper wedge line.
⚠️ Disclaimer:
This analysis is for educational and informational purposes only. Please consult your financial advisor before making any trading decisions.
Trade closed: target reached
The first resistance level has been touched. If the trend is to continue, it's important to follow a trailing stop-loss strategy and patiently wait for the price to approach the second resistance level.
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.