Hindustan Foods Ltd-Symmetrical Triangle Breakout!Hindustan Foods Ltd.—Symmetrical Triangle Breakout! 🚀📈
📅 Published on: April 12, 2025
📊 Chart Insight:
HNDFDS has broken out of a well-formed symmetrical triangle pattern on the daily chart, signaling a potential bullish continuation. The breakout is accompanied by a solid green candle and volume surge, hinting at strong momentum ahead.
🔍 Key Technical Highlights:
🔺 Pattern: Symmetrical Triangle (Lower highs + Higher lows)
📏 Breakout Level: ₹560
📈 Current Price: ₹571.65 (+4.03%)
📊 Volume Spike: 109.28K—a notable increase compared to recent sessions
📌 Support & Resistance Levels:
Immediate Support: ₹560 (breakout level)
Next Support (lower trendline): ₹530
Resistance Levels to Watch:
₹586 (minor supply zone)
₹615
₹645 (swing high)
📉 RSI Indicator:
Current RSI: 60.40—strong upward move, not yet overbought
Hidden Bullish Divergence (visible on chart): RSI made higher lows while price was consolidating—early bullish signal
Bearish markers now invalidated post-breakout
🧠 Trade Idea / Strategy:
📥 Buy on dips near ₹560–₹565 if price retests breakout
🛑 Stop-loss: ₹530 (below ascending trendline)
🎯 Targets: ₹586 ➡ ₹615 ➡ ₹645
📘 Note: Triangle breakouts typically indicate strong price movement after consolidation. Volume confirmation adds conviction.
🔔 Disclaimer: This chart is for educational purposes only. Do your own analysis or consult a financial advisor before investing.
