(SONACOMS) — Bullish Pullback Setup
📅 Timeframe: 1D | 💰 CMP: ₹472.75 | 📈 Volume: Above average
Technical View
Sona BLW has completed a strong impulse wave from ₹402 → ₹503, followed by a healthy pullback.
Price is now retracing near the 0.618 Fib level (₹464.8), aligning with the 21EMA — a zone that often acts as support during trend continuation.
Volume on the breakout was strong, showing accumulation interest.
Trade Plan
Entry Zone: ₹465–₹470
Stop Loss: ₹450 (below 0.5 Fib and 20EMA)
Targets:
🎯 T1: ₹503
🎯 T2: ₹530 (Fib 1.272)
🎯 T3: ₹566 (Fib 1.618)
Summary
✅ Uptrend resumption likely if ₹450 holds
✅ Rising 21EMA & 50EMA support the structure
✅ Strong breakout volume confirms institutional buying
Bias: Bullish
Risk–Reward: ~1:2.5+
Invalidation: Close below ₹450
Disclaimer: Risk management is crucial in this volatile market, so keep position sizing appropriate. This analysis is intended for educational purposes and not financial advice.
📅 Timeframe: 1D | 💰 CMP: ₹472.75 | 📈 Volume: Above average
Technical View
Sona BLW has completed a strong impulse wave from ₹402 → ₹503, followed by a healthy pullback.
Price is now retracing near the 0.618 Fib level (₹464.8), aligning with the 21EMA — a zone that often acts as support during trend continuation.
Volume on the breakout was strong, showing accumulation interest.
Trade Plan
Entry Zone: ₹465–₹470
Stop Loss: ₹450 (below 0.5 Fib and 20EMA)
Targets:
🎯 T1: ₹503
🎯 T2: ₹530 (Fib 1.272)
🎯 T3: ₹566 (Fib 1.618)
Summary
✅ Uptrend resumption likely if ₹450 holds
✅ Rising 21EMA & 50EMA support the structure
✅ Strong breakout volume confirms institutional buying
Bias: Bullish
Risk–Reward: ~1:2.5+
Invalidation: Close below ₹450
Disclaimer: Risk management is crucial in this volatile market, so keep position sizing appropriate. This analysis is intended for educational purposes and not financial advice.
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Related publications
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.
If you like my ideas, don’t forget to Like, Follow & Share. 📈
I regularly post breakout setups, swing trades, price action analysis & high probability trading ideas with proper risk-reward. Your support keeps me motivated to share more quality setups.
I regularly post breakout setups, swing trades, price action analysis & high probability trading ideas with proper risk-reward. Your support keeps me motivated to share more quality setups.
Related publications
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.