📊 TIIL – Descending Trendline Breakout Watch | Key Fib Retest in Play
🕰️ Timeframe: 1D | 🧭 Pattern: Descending Triangle | 🎯 Fibonacci Reversal Setup
📈 Technical Analysis Summary:
TIIL is currently approaching a major trendline resistance, drawn from its all-time high. After a long downtrend, the stock is now testing the 50% Fibonacci retracement level at ₹2,731.35 with rising momentum.
The price is hovering near a breakout zone and consolidating just below resistance, hinting at potential bullish continuation. A successful breakout can open gates to much higher levels, especially toward the 38.2% Fib zone and beyond.
🔍 Chart Highlights:
⚪ Descending Trendline: Key multi-month resistance line
🟢 Current Price Action: Holding above 61.8% Fib (₹2,448.40) and pushing toward 50% zone (₹2,731.35)
🔵 Base Support: ₹2,112.25 (previous structure low)
📈 Volume: Gradual build-up near resistance zone
🔴 RSI (14): Currently at 59.70 – neutral-to-bullish, showing higher lows
📍 Bullish RSI Icons: Highlighted near recent bottoms, indicating accumulation zones
📌 Support & Resistance Levels:
Type Level (₹)
🔼 Resistance 1 2,731.35 (Fib 50%)
🔼 Resistance 2 3,014.30 (Fib 38.2%)
🔻 Support 1 2,448.40 (Fib 61.8%)
🔻 Support 2 2,112.25 (Major horizontal support)
🧭 Trading Setup Overview:
✅ Bias: Bullish if price breaks and closes above trendline and ₹2,731
💡 Entry Watch: Break and hold above ₹2,731.35 with volume
🛑 Invalidation: Close below ₹2,448.40 (61.8% Fib)
🎯 Upside Targets: ₹3,014 → ₹3,500+ (based on structure)
💬 Conclusion:
TIIL is at a critical juncture with a high-probability trendline breakout setup in play. The Fibonacci confluence, improving RSI, and rising volume indicate a bullish bias. Watch for a strong breakout candle above ₹2,731 for potential positional opportunities.
⚠️ Disclaimer: This chart is shared for educational purposes. Kindly consult your financial advisor before making any trading decisions.
🔔 Follow @PriceAction_Pulse for more high-probability swing setups and technical chart breakdowns!
📌 Save & share if TIIL is on your breakout watchlist!
🕰️ Timeframe: 1D | 🧭 Pattern: Descending Triangle | 🎯 Fibonacci Reversal Setup
📈 Technical Analysis Summary:
TIIL is currently approaching a major trendline resistance, drawn from its all-time high. After a long downtrend, the stock is now testing the 50% Fibonacci retracement level at ₹2,731.35 with rising momentum.
The price is hovering near a breakout zone and consolidating just below resistance, hinting at potential bullish continuation. A successful breakout can open gates to much higher levels, especially toward the 38.2% Fib zone and beyond.
🔍 Chart Highlights:
⚪ Descending Trendline: Key multi-month resistance line
🟢 Current Price Action: Holding above 61.8% Fib (₹2,448.40) and pushing toward 50% zone (₹2,731.35)
🔵 Base Support: ₹2,112.25 (previous structure low)
📈 Volume: Gradual build-up near resistance zone
🔴 RSI (14): Currently at 59.70 – neutral-to-bullish, showing higher lows
📍 Bullish RSI Icons: Highlighted near recent bottoms, indicating accumulation zones
📌 Support & Resistance Levels:
Type Level (₹)
🔼 Resistance 1 2,731.35 (Fib 50%)
🔼 Resistance 2 3,014.30 (Fib 38.2%)
🔻 Support 1 2,448.40 (Fib 61.8%)
🔻 Support 2 2,112.25 (Major horizontal support)
🧭 Trading Setup Overview:
✅ Bias: Bullish if price breaks and closes above trendline and ₹2,731
💡 Entry Watch: Break and hold above ₹2,731.35 with volume
🛑 Invalidation: Close below ₹2,448.40 (61.8% Fib)
🎯 Upside Targets: ₹3,014 → ₹3,500+ (based on structure)
💬 Conclusion:
TIIL is at a critical juncture with a high-probability trendline breakout setup in play. The Fibonacci confluence, improving RSI, and rising volume indicate a bullish bias. Watch for a strong breakout candle above ₹2,731 for potential positional opportunities.
⚠️ Disclaimer: This chart is shared for educational purposes. Kindly consult your financial advisor before making any trading decisions.
🔔 Follow @PriceAction_Pulse for more high-probability swing setups and technical chart breakdowns!
📌 Save & share if TIIL is on your breakout watchlist!
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.