VA TECH WABAG LTD (NSE: WABAG) is about to break to the upsideRight now, it is completing a descending trendline breakout, which is a bullish pattern.
The stock has been consolidating for the past 4 months in a corrective phase and is now attempting a strong breakout.
All important levels have been marked on the chart.
Looking at the chart, we can say that if the price sustains above the breakout level, there is a high probability that the stock will reach the ₹1,922 target.
For the past few days, volume has also been quite good. If we enter the stock at ₹1,463, we can achieve the target with
Risk: Reward :: 1 : 2.63.
Support Levels:
🔹 ₹1,315 – Strong support zone
🔹 ₹1,182 – 50% Fibonacci retracement support
🔹 ₹1,007 – 61.8% Fibonacci support level (Golden Ratio)
Resistance Levels:
🔹 ₹1,482 – Immediate breakout level
🔹 ₹1,573 – Fibonacci 23.6% retracement resistance
🔹 ₹1,922 – Final target zone
Reasons:
✅ Consolidation for 4 months, leading to a strong breakout setup
✅ Descending Trendline Breakout
✅ Support at ₹1,315 holding strong
✅ Wait for RSI to cross 65 for confirmation
✅ Successful breakout attempt after a corrective phase
✅ High volume surge, indicating strong buying interest
✅ Price > 50-day & 200-day EMA (bullish signal)
Verdict:
Bullish
Plan of Action:
Enter once the breakout is confirmed to the upside.
BUY: ₹1,463
Stoploss: ₹1,315
Target: ₹1,922
Trailing SL: ₹50
Priceactionlevels
Nifty Daily Levels Update For Option Day Trading Tomorrow Call Side Posiible Trade in Nifty
First Possible Trade
Tread Entry
If Nifty sustain Above Support Zone (16606 -16588) You can Buy 16600 ATM CALL OPTION
Trade Target
Up side First Target is 16650 and If Any 1 Hour CandleCloses above first Target then Second target is 16700
Tread Stoploss
After Entry in Trade If any 30 min. Candle Closes Below Support 16588 then exit From Trade Or Take Stoplos of Maximum 20 /25 oints
Second Possible Trade
Tread Entry
If Nifty sustain Above Support Zone (16497 -16480) You can Buy 16600 ATM CALL OPTION
Trade Target
Up side First Target is 16585 and If Any 1 Hour CandleCloses above first Target then Second target is 16606 /16650
Tread Stoploss
After Entry in Trade If any 30 min. Candle Closes Below Support 16480 then exit From Trade Or Take Stoplos of Maximum 20 /25 oints
Tomorrow Put Side Posiible Trade in Nifty
Tread Entry
If Nifty Sustain Below Resistance Zone (16606-16588 ) You can Buy 16350 ATM PUT OPTION
Trade Target
Down side First nifty Target is 16497 If Any 1 Hour CandleCloses above first Target then Second target is 16370
Tread Stoploss
After Entry in Trade If any 30 min. Candle Closes Above Resistance 16606 then exit From Trade Or Take Stoplos of Maximum 20 /25 oints