TRENT LTDLong
Trent Ltd – Breakout in Progress
📊 Analysis:
Trent Ltd is trading near its resistance zone around ₹7,020, forming a rising wedge pattern, which indicates sustained bullish momentum. The stock is supported by the 21-EMA and 50-EMA, confirming strength in the trend. A breakout above ₹7,020 could trigger further upside.
📈 Trading Plan:
Entry: Buy above ₹7,030 (on breakout confirmation with volume).
Target 1: ₹7,600
Target 2: ₹7,870
Stop-Loss: ₹6,810 (below recent swing low to limit risk).
🛑 Risk-to-Reward Ratio: Approximately 1:2
💡 Note:
Watch for volume confirmation during the breakout to avoid false signals. Stay cautious if the stock closes below ₹6,810, as it may invalidate the setup.
Trent Ltd is trading near its resistance zone around ₹7,020, forming a rising wedge pattern, which indicates sustained bullish momentum. The stock is supported by the 21-EMA and 50-EMA, confirming strength in the trend. A breakout above ₹7,020 could trigger further upside.
📈 Trading Plan:
Entry: Buy above ₹7,030 (on breakout confirmation with volume).
Target 1: ₹7,600
Target 2: ₹7,870
Stop-Loss: ₹6,810 (below recent swing low to limit risk).
🛑 Risk-to-Reward Ratio: Approximately 1:2
💡 Note:
Watch for volume confirmation during the breakout to avoid false signals. Stay cautious if the stock closes below ₹6,810, as it may invalidate the setup.
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