Siemens has successfully broken out of a well-defined symmetrical triangle pattern, and the breakout has occurred with a strong bull candle above the upper trendline, which adds conviction to the move.
📌 Key Technical Highlights
Pattern: Symmetrical Triangle
Breakout Level: ~₹3300
Candle Type: Bullish breakout candle (good body, strong close)
Volume Confirmation: If accompanied by rising volume, the breakout becomes even stronger.
Trend Context: Siemens has been in a broader uptrend, and triangle breakouts in an uptrend typically act as continuation patterns.
📈 What to Watch Next
Sustaining above ₹3300 for 1–2 sessions
Retest of the breakout level (if it happens) with a bounce
Volume expansion supporting the upside
📌 Key Technical Highlights
Pattern: Symmetrical Triangle
Breakout Level: ~₹3300
Candle Type: Bullish breakout candle (good body, strong close)
Volume Confirmation: If accompanied by rising volume, the breakout becomes even stronger.
Trend Context: Siemens has been in a broader uptrend, and triangle breakouts in an uptrend typically act as continuation patterns.
📈 What to Watch Next
Sustaining above ₹3300 for 1–2 sessions
Retest of the breakout level (if it happens) with a bounce
Volume expansion supporting the upside
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.