Astral on the Verge: Technical Breakout & Investment Zones MappeAstral Limited : CMP: 1557.30: After studying its monthly chart structure and weekly Elliott Wave formations. Recent price action suggests a potential breakout setup, offering opportunities for both aggressive traders and patient investors.
Entry for Aggressive Traders:
• Aggressive traders can look for a breakout above the recent swing high near 1,579, as marked on both the monthly and weekly charts. This level has already shown strong momentum, with a notable price jump of +7.39% in the recent candle.
• Targets: 1630, 1725, 1795, 1935, 2200. Use trailing stop-loss: 1500, 1625, 1710, 1790, 1900 as you move up. Manage risk and adjust stop-loss as per levels.
Conservative Entry for Investors
• Investor Entry: Investors may enter on reasonable dips towards 1,440–1,460 support zone, as this range aligns with previous resistance turned support and is less volatile. Alternatively, entry after confirmation of the breakout above 1,579 with sustained volume is also suitable.
• Targets: Investors: Enter between 1,440–1,460. Targets: 1,935 and 2,200 for the medium term.
These represent major Fibonacci retracement zones and historical resistance levels, suggesting strong probability of acting as future price objectives. Investors can use a wider stop near 1,230 based on weekly chart support.
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