🔍 Chart Pattern Analysis:
Pattern Formed:
A symmetrical triangle consolidation pattern can be observed on the chart, with:
A downward sloping resistance line (from mid-June highs),
A flat support level near ₹900,
Today’s breakout candle closing above the triangle’s resistance zone.
This pattern suggests price compression with declining volatility and sets up for a potential strong directional breakout.
✅ Bullish Breakout Confirmation:
Today's price action indicates a breakout above the resistance trendline with a strong bullish candle.
If followed by higher volumes in the coming sessions, this move can confirm the breakout and signal trend continuation.
Immediate Resistance >>> 970–980
Next Major Resistance >>>1,000–1,020
Breakout Support Zone >>>930–940
Key Stop-loss Level >>> 900
Trader Strategy:
Positional Traders: May consider entering near ₹950–₹955 with stop-loss below ₹930.
Target Range: ₹980–1,020 in the short term.
Risk Management: Avoid entries if the stock closes back below ₹940 in the next few sessions.
Trend Bias: Bullish, with breakout leading to possible continuation of the prior uptrend.
🧾 Disclaimer:
This analysis is provided for educational and informational purposes only and does not constitute investment advice or a recommendation to buy or sell any financial instrument.
Stock markets are subject to risk. Please consult a SEBI-registered investment advisor before making any trading or investment decisions. Past performance is not indicative of future results.
Pattern Formed:
A symmetrical triangle consolidation pattern can be observed on the chart, with:
A downward sloping resistance line (from mid-June highs),
A flat support level near ₹900,
Today’s breakout candle closing above the triangle’s resistance zone.
This pattern suggests price compression with declining volatility and sets up for a potential strong directional breakout.
✅ Bullish Breakout Confirmation:
Today's price action indicates a breakout above the resistance trendline with a strong bullish candle.
If followed by higher volumes in the coming sessions, this move can confirm the breakout and signal trend continuation.
Immediate Resistance >>> 970–980
Next Major Resistance >>>1,000–1,020
Breakout Support Zone >>>930–940
Key Stop-loss Level >>> 900
Trader Strategy:
Positional Traders: May consider entering near ₹950–₹955 with stop-loss below ₹930.
Target Range: ₹980–1,020 in the short term.
Risk Management: Avoid entries if the stock closes back below ₹940 in the next few sessions.
Trend Bias: Bullish, with breakout leading to possible continuation of the prior uptrend.
🧾 Disclaimer:
This analysis is provided for educational and informational purposes only and does not constitute investment advice or a recommendation to buy or sell any financial instrument.
Stock markets are subject to risk. Please consult a SEBI-registered investment advisor before making any trading or investment decisions. Past performance is not indicative of future results.
Trade closed: target reached
Short-term target of ₹980–1,020 achieved on 29 Jul 2025.
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.