RBL Bank Range Breakout + Trendline Break! 💥🚀
📅 Published on: April 16, 2025
📊 Chart Insight:
RBLBANK has given a dual breakout—piercing above a long-standing descending trendline and breaking out of a rectangle consolidation zone. This combo setup indicates a potential trend reversal or continuation rally from here on.
🔍 Technical Highlights:
🔺 Pattern: Rectangle range breakout + descending trendline breakout
🟪 Consolidation Range: ₹148–₹178 (marked in purple)
📈 Breakout Candle Close: ₹181.57
📊 Volume Surge: 218.23K—strong bullish confirmation
📌 Support & Resistance Levels:
🟢 Immediate Support: ₹178 (top of the rectangle zone)
🟢 Next Strong Support: ₹164 (middle of the rectangle)
🔴 Resistance Levels to Watch:
₹188 (trendline zone retest)
₹198
₹212 (gap fill level)
📈 Trendline Analysis:
Price has broken above the major descending trendline from April 2024 highs.
This trendline had been acting as dynamic resistance and is now a potential trend shifter.
🧠 Trade Idea/Strategy:
💹 Entry: Near ₹178–₹181 (post-breakout retest ideal)
🛑 Stop-loss: Below ₹164
🎯 Targets: ₹188 ➡ ₹198 ➡ ₹212
📍 Visual Indicators Used:
✅ Rectangle drawn to capture sideways accumulation
✅ Trendline from previous highs marking resistance
✅ Volume spike indicating strong buying interest
📘 Note: Multiple timeframe confirmation is advised. Volume and structure align well with bullish bias.
🔔 Disclaimer: Educational post only. Always do your own research or consult with a SEBI-registered advisor
📅 Published on: April 16, 2025
📊 Chart Insight:
RBLBANK has given a dual breakout—piercing above a long-standing descending trendline and breaking out of a rectangle consolidation zone. This combo setup indicates a potential trend reversal or continuation rally from here on.
🔍 Technical Highlights:
🔺 Pattern: Rectangle range breakout + descending trendline breakout
🟪 Consolidation Range: ₹148–₹178 (marked in purple)
📈 Breakout Candle Close: ₹181.57
📊 Volume Surge: 218.23K—strong bullish confirmation
📌 Support & Resistance Levels:
🟢 Immediate Support: ₹178 (top of the rectangle zone)
🟢 Next Strong Support: ₹164 (middle of the rectangle)
🔴 Resistance Levels to Watch:
₹188 (trendline zone retest)
₹198
₹212 (gap fill level)
📈 Trendline Analysis:
Price has broken above the major descending trendline from April 2024 highs.
This trendline had been acting as dynamic resistance and is now a potential trend shifter.
🧠 Trade Idea/Strategy:
💹 Entry: Near ₹178–₹181 (post-breakout retest ideal)
🛑 Stop-loss: Below ₹164
🎯 Targets: ₹188 ➡ ₹198 ➡ ₹212
📍 Visual Indicators Used:
✅ Rectangle drawn to capture sideways accumulation
✅ Trendline from previous highs marking resistance
✅ Volume spike indicating strong buying interest
📘 Note: Multiple timeframe confirmation is advised. Volume and structure align well with bullish bias.
🔔 Disclaimer: Educational post only. Always do your own research or consult with a SEBI-registered advisor
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.