📊 NAZARA – Breakout from Long-Term Falling Wedge | Strong Weekly Momentum
🕰️ Timeframe: Weekly | 💥 Pattern: Falling Wedge Breakout | 🔥 Sentiment: Bullish
📈 Chart Overview:
Nazara Technologies has broken out of a multi-year falling wedge on the weekly chart, with a strong green candle above key EMAs and Fibonacci confluence zones. Price closed the week above ₹1,100, indicating a shift in long-term momentum and a potential start of a fresh uptrend.
🔍 Technical Highlights:
📉 Falling Wedge Pattern: Multi-year consolidation now broken on strong volume
💥 Breakout Candle: Price closed above trendline resistance and key Fibonacci 50% level
🧠 Volume Surge: Volume confirmation signals institutional interest
📊 EMA Confluence: Price trading above 20/50/100/200 EMAs – bullish alignment
🧱 Support & Resistance Levels:
Level Type Price (₹)
🔼 Resistance 1 1,219.25 (Fib 61.8%)
🔼 Resistance 2 1,678.00 (Previous ATH / Fib 100%)
🔻 Support 1 1,077.55 (Fib 50% – breakout zone)
🔻 Support 2 935.85 (Fib 38.2% + EMA cluster)
🔻 Support 3 820–860 (multi-touch horizontal support & EMA 200)
🔧 Indicators Used:
Fibonacci Retracement – Plotted from swing low ₹477.10 to high ₹1,678.00
EMA 20/50/100/200 – Price is now above all EMAs, showing trend shift
Volume Bars – Confirming strong breakout
Chart Pattern – Falling wedge (typically bullish)
📌 Chart Sentiment & Setup:
✅ Bias: Strongly Bullish
📍 Breakout Level: ₹1,077
🎯 Upside Targets: ₹1,219 → ₹1,320 → ₹1,678
❌ Invalidation: Sustained close below ₹935 with volume
📢 Summary:
Nazara is showing signs of a structural breakout after prolonged downtrend and consolidation. The falling wedge breakout, confirmed by volume and EMA crossover, sets up a long-term bullish outlook. A retest of the ₹1,075–₹1,100 zone could offer a high-probability entry.
🧠 Pro Tip: Wait for a weekly candle close and minor pullback to the breakout level before entry.
⚠️ Disclaimer: This is a technical analysis post meant for educational purposes only. Please do your own research or consult a financial advisor before investing.
🔔 Follow @PriceAction_Pulse for more actionable swing setups, breakout alerts, and chart breakdowns!
🕰️ Timeframe: Weekly | 💥 Pattern: Falling Wedge Breakout | 🔥 Sentiment: Bullish
📈 Chart Overview:
Nazara Technologies has broken out of a multi-year falling wedge on the weekly chart, with a strong green candle above key EMAs and Fibonacci confluence zones. Price closed the week above ₹1,100, indicating a shift in long-term momentum and a potential start of a fresh uptrend.
🔍 Technical Highlights:
📉 Falling Wedge Pattern: Multi-year consolidation now broken on strong volume
💥 Breakout Candle: Price closed above trendline resistance and key Fibonacci 50% level
🧠 Volume Surge: Volume confirmation signals institutional interest
📊 EMA Confluence: Price trading above 20/50/100/200 EMAs – bullish alignment
🧱 Support & Resistance Levels:
Level Type Price (₹)
🔼 Resistance 1 1,219.25 (Fib 61.8%)
🔼 Resistance 2 1,678.00 (Previous ATH / Fib 100%)
🔻 Support 1 1,077.55 (Fib 50% – breakout zone)
🔻 Support 2 935.85 (Fib 38.2% + EMA cluster)
🔻 Support 3 820–860 (multi-touch horizontal support & EMA 200)
🔧 Indicators Used:
Fibonacci Retracement – Plotted from swing low ₹477.10 to high ₹1,678.00
EMA 20/50/100/200 – Price is now above all EMAs, showing trend shift
Volume Bars – Confirming strong breakout
Chart Pattern – Falling wedge (typically bullish)
📌 Chart Sentiment & Setup:
✅ Bias: Strongly Bullish
📍 Breakout Level: ₹1,077
🎯 Upside Targets: ₹1,219 → ₹1,320 → ₹1,678
❌ Invalidation: Sustained close below ₹935 with volume
📢 Summary:
Nazara is showing signs of a structural breakout after prolonged downtrend and consolidation. The falling wedge breakout, confirmed by volume and EMA crossover, sets up a long-term bullish outlook. A retest of the ₹1,075–₹1,100 zone could offer a high-probability entry.
🧠 Pro Tip: Wait for a weekly candle close and minor pullback to the breakout level before entry.
⚠️ Disclaimer: This is a technical analysis post meant for educational purposes only. Please do your own research or consult a financial advisor before investing.
🔔 Follow @PriceAction_Pulse for more actionable swing setups, breakout alerts, and chart breakdowns!
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.Note
The second 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 final 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.