Chart Idea: Technocraft Industries – Breakout Watch
🔑 Technical Setup
Resistance Zone: ₹3,364.25 → Price needs to break above for momentum.
Support Zone: ₹3,234.05 → Holding this is crucial for bullish bias.
Target: ₹3,656.00 (based on price action breakout levels).
📝 Analysis
The stock has been consolidating near a major resistance level.
A sustained breakout above ₹3,364 could trigger a rally toward ₹3,656.
If the price fails to hold support at ₹3,234, we may see downside pressure.
Volume confirmation will be key to validate the breakout.
⚠️ Risk Management
Entry Zone: On a confirmed breakout above ₹3,364.
Stop Loss: Below ₹3,234 (recent support).
Risk-Reward Ratio: Favorable if breakout holds.
📌 Disclaimer: This analysis is for educational purposes only and not financial advice. Please do your own research or consult a financial advisor before making investment decisions.
Resistance Zone: ₹3,364.25 → Price needs to break above for momentum.
Support Zone: ₹3,234.05 → Holding this is crucial for bullish bias.
Target: ₹3,656.00 (based on price action breakout levels).
📝 Analysis
The stock has been consolidating near a major resistance level.
A sustained breakout above ₹3,364 could trigger a rally toward ₹3,656.
If the price fails to hold support at ₹3,234, we may see downside pressure.
Volume confirmation will be key to validate the breakout.
⚠️ Risk Management
Entry Zone: On a confirmed breakout above ₹3,364.
Stop Loss: Below ₹3,234 (recent support).
Risk-Reward Ratio: Favorable if breakout holds.
📌 Disclaimer: This analysis is for educational purposes only and not financial advice. Please do your own research or consult a financial advisor before making investment decisions.
Note
FII increased slightlyTrade closed: stop reached
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.