Price Action View
Stock had a strong breakout rally recently with heavy volume, creating an imbalance (FVG – Fair Value Gap) in the daily chart.
After the sharp move, price is now retracing downwards into the discount zone & order block area.
🟢 Bullish Points
Clear uptrend structure – higher highs and higher lows.
Strong volume spike confirms institutional interest.
Price is approaching the FVG zone (₹2,200–₹2,400) which can act as a demand zone for a bounce.
🔴 Risk / Bearish Signs
Current correction is sharp (–3.2% today) → showing sellers still active.
If price breaks below ₹2,000, structure weakens and downside towards ₹1,700 support is possible.
🎯 Trading Plan (As per Chart Markings)
First Entry: around ₹2,200–₹2,300 (inside FVG).
Second Entry: if deeper retracement near ₹2,000.
Stop Loss: below order block (~₹1,850–₹1,900).
Target 1: around ₹3,300 (previous high / resistance).
✅ Summary
Stock is in a strong uptrend but currently cooling off after a big rally. Best approach is to wait for retracement into the FVG/Order Block zone and then look for buying opportunities with a stop loss below ₹1,900. If the setup works, upside target remains ₹3,200–₹3,300
Stock had a strong breakout rally recently with heavy volume, creating an imbalance (FVG – Fair Value Gap) in the daily chart.
After the sharp move, price is now retracing downwards into the discount zone & order block area.
🟢 Bullish Points
Clear uptrend structure – higher highs and higher lows.
Strong volume spike confirms institutional interest.
Price is approaching the FVG zone (₹2,200–₹2,400) which can act as a demand zone for a bounce.
🔴 Risk / Bearish Signs
Current correction is sharp (–3.2% today) → showing sellers still active.
If price breaks below ₹2,000, structure weakens and downside towards ₹1,700 support is possible.
🎯 Trading Plan (As per Chart Markings)
First Entry: around ₹2,200–₹2,300 (inside FVG).
Second Entry: if deeper retracement near ₹2,000.
Stop Loss: below order block (~₹1,850–₹1,900).
Target 1: around ₹3,300 (previous high / resistance).
✅ Summary
Stock is in a strong uptrend but currently cooling off after a big rally. Best approach is to wait for retracement into the FVG/Order Block zone and then look for buying opportunities with a stop loss below ₹1,900. If the setup works, upside target remains ₹3,200–₹3,300
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.