JKTYRE – Breakout Watch Setup (Daily Chart)The stock has shown a strong bullish engulfing candle backed by volume spurt, breaking above a long-standing downtrend line. Price action suggests range expansion, with momentum building toward reclaiming higher levels.
Structure is improving rapidly, with today's candle pushing the stock near its immediate breakout zone. A clean follow-through may confirm trend reversal.
🔔 Trade Plan
Entry: ₹371.45+
Stop Loss: ₹325.60 (closing basis)
Target 1: ₹426.75
Target 2: ₹459.20
Target 3: ₹513.35
ATH Zone: ₹556.45
🎯 Risk:Reward Overview
Risk (Entry to SL): ₹45.85
Reward to T1: ₹55.30 → R:R ~ 1.20
Reward to T2: ₹87.75 → R:R ~ 1.91
Reward to T3: ₹141.90 → R:R ~ 3.09
This offers a highly favourable R:R setup, especially for swing traders looking to ride trend continuation after a strong base formation.
💡 Execution Tip
You can consider taking a test quantity near ₹371–373 to gauge strength. Add more if the price sustains above ₹396.55 with momentum. Trail your SL smartly post T1.
🧠 Why It Stands Out
Breakout above falling trendline
Range expansion candle with strong body
Backed by volume — indicating institutional interest
Clean upside zone toward 1-year highs
Psychological reset above ₹400 round level
⚠️ Risk Management Is Key
As always, stick to your SL, size your position according to your risk appetite, and don’t overexpose at breakout highs. Trailing SL is your best friend in trending setups like this.
📌 Disclaimer:
This is not investment advice. I am not a SEBI-registered advisor. All content is for educational purposes only. Please do your own research and follow a well-defined trade plan.
