RBL Bank Ltd- Range Breakout + Trendline Break!RBL Bank Range Breakout + Trendline Break! 💥🚀
📅 Published on: April 16, 2025
📊 Chart Insight:
RBLBANK has given a dual breakout—piercing above a long-standing descending trendline and breaking out of a rectangle consolidation zone. This combo setup indicates a potential trend reversal or continuation rally from here on.
🔍 Technical Highlights:
🔺 Pattern: Rectangle range breakout + descending trendline breakout
🟪 Consolidation Range: ₹148–₹178 (marked in purple)
📈 Breakout Candle Close: ₹181.57
📊 Volume Surge: 218.23K—strong bullish confirmation
📌 Support & Resistance Levels:
🟢 Immediate Support: ₹178 (top of the rectangle zone)
🟢 Next Strong Support: ₹164 (middle of the rectangle)
🔴 Resistance Levels to Watch:
₹188 (trendline zone retest)
₹198
₹212 (gap fill level)
📈 Trendline Analysis:
Price has broken above the major descending trendline from April 2024 highs.
This trendline had been acting as dynamic resistance and is now a potential trend shifter.
🧠 Trade Idea/Strategy:
💹 Entry: Near ₹178–₹181 (post-breakout retest ideal)
🛑 Stop-loss: Below ₹164
🎯 Targets: ₹188 ➡ ₹198 ➡ ₹212
📍 Visual Indicators Used:
✅ Rectangle drawn to capture sideways accumulation
✅ Trendline from previous highs marking resistance
✅ Volume spike indicating strong buying interest
📘 Note: Multiple timeframe confirmation is advised. Volume and structure align well with bullish bias.
🔔 Disclaimer: Educational post only. Always do your own research or consult with a SEBI-registered advisor
