DAILY TECHNICAL ANALYSIS - Bullish Wedge Breakout + Volume BreakSHRIRAM FINANCE LTD (SHRIRAMFIN) — DAILY TECHNICAL ANALYSIS
📅 Date: June 7, 2025
🔹 Price Action Summary:
• Closed @ 688.25, up 5.65% from previous close
• Closed near the day’s high (690.9) — strong momentum visible
• Bullish range expansion with price breaking past key levels on volume
🔹 Chart Pattern:
• Bullish Wedge Breakout — breakout from compression, indicating potential trend continuation
🔹 Why Watch This? – Technical Indicators:
Multiple bullish indicators support the breakout:
✅ Bullish Momentum
✅ Buy Today, Sell Tomorrow Setup
✅ RSI Breakout
✅ MACD Crossover
✅ Bollinger Band Breakout
✅ Bullish SuperTrend Confirmation
✅ TTM Squeeze Compression – Ready for Expansion
🔹 Support & Resistance Levels:
• Resistance:
- R1: 705
- R2: 721
- R3: 751
• Support:
- S1: 658
- S2: 628
- S3: 611
🔹 STWP TRADE ALERT – Momentum Setup:
• Long Entry Idea: 690.9
• Stop Loss (DCB): 643.2
• Swing Stop Loss: 637
• Reward Ratios: 1:1 | 1:2 | 🔼 Trail if strength continues
🔹 STWP SWING TRADE – 2% Risk Plan:
• Entry Zone: 688.25 – 690.90
• Stop Loss (2% from Entry): 674.5
• Target R:R: 1:1 | 1:2 | 🔼 Scalable if breakout sustains
🔹 Watchlist Grade:
🔥🔥🔥 (Compression Breakout Setup with Confirmation)
🔹 Strategy Note:
• Wedge breakouts after compression often lead to trending moves
• Works well for BTST & Swing trades
• Clean continuation above 690.9 adds conviction
• Pullback near 680–685 zone could offer low-risk re-entry
⚠️ Risk Management Tip:
• Don’t chase blindly — always have a plan
• Define your entry, stop loss, and exit before the trade
• Compression breakouts can reverse fast — stay nimble
• Protect your capital, especially in high-volatility setups
📢 Disclaimer
This content is for educational and informational purposes only.
It is not investment advice or a buy/sell recommendation.
Trading involves financial risk.
Always consult a SEBI-registered advisor before initiating trades.
The author is not SEBI-registered and is not liable for any loss.
Please practice risk management and conduct your own analysis.
👇 What’s Your View? – Join the Discussion Below:
• Are you tracking SHRIRAMFIN post breakout?
• Will this wedge breakout carry further?
• Got charts or thoughts to share?
💡 Always learning, always improving — let’s talk charts!
🧠 Trade with Patience. Trade with Confidence.
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