ShalbyLtd - Investment Doubler - High Conviction Trade Setup#Shalby Ltd - #Technical Analysis Report
Current Price: 264.50
Key Technical Signals
Bullish Confirmation from Multiple Timeframes:
- Monthly chart shows a confirmed range breakout with uptrend validation
- Previous high broken on monthly chart, establishing higher highs
- Powerful RSI Bullish Divergence observed in monthly timeframe
Weekly Chart Analysis:
- Supply zone has been invalidated by price trading above 246-250 Levels
- Stock is now in an active swing trade setup
- Expected Immediate 10 to 15% Move Swing Setup.
Investment Status:
The stock presents a compelling "Investment Double" opportunity, with the previous high broken and a higher high confirmed on the monthly chart. The pattern suggests significant upside potential after a period of consolidation.
Price Targets
Short-term Swing Trade: Potential move of 15-20% from current levels
Medium to Long-term Targets:
- ₹306 (Critical breakout level)
- ₹339
- ₹356
- ₹381
- ₹427++++
A decisive close above ₹306 will trigger momentum toward higher Fibonacci-based targets.
Risk Consideration
Expect a consolidation period of approximately one month following Doji or inside bar formations before the next major move materializes.
Conclusion
Shalby Ltd presents a strong technical setup with multiple timeframe confirmation. The invalidation of the supply zone and monthly breakout suggest the stock is positioned for a sustained upward movement. Traders should monitor the ₹306 level closely for breakout confirmation.
Disclaimer: Charts shared only for Educational purpose only. Its not a trade recommendation. Do your own analysis to survive in Trading for a longer run.
