PICCADIL has completed a comprehensive multi-month Re-accumulation base coupled with a classic Volatility Contraction Pattern (VCP) across May and June.Today's forceful daily closing candle at ₹718.90 (+7.01%) marks a definitive Sign of Strength with price Breakout above the primary horizontal supply barrier (₹680 - ₹715). The price action is validated by institutional-grade volume expansion (820.59K) absorbing overhead supply efficiently.
Trading Plan:
Entry: Optimal entries on minor intraday pullbacks or testing of the breakout zone
Point of Interest / Retest Zone (POI): ₹640 – ₹675 (Major Demand Block).
Targets: ₹795 (Immediate Structure) and ₹860 (Major Range Target).
Risk Management / Invalidation: Daily close below ₹635 breaks the structural continuation setup. Keep position sizes strictly aligned with capital allocation limits.
Direction: Bullish Long-Setup
Timeframe: Short to Medium Term
Disclaimer:
I am not a SEBI-registered investment advisor or research analyst. This post is shared purely for educational purposes and to illustrate price action concepts. Please conduct your own due diligence and consult a certified financial advisor before making any investment decisions.
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.