WAAREE ENERGIES LTD - Cup Breakout with Rising RSI⚡ WAAREE ENERGIES LTD – Cup Breakout with Rising RSI
🕒 Timeframe: 1D | NSE: WAAREENER
📅 Date: April 22, 2025
💰 CMP: ₹2,444.20
📈 Volume: 2.15M
🔍 Chart Observations
☕ Cup Formation visible on the daily chart – smooth rounding bottom structure, signifying accumulation.
📐 Breakout from Downtrend Line confirms bullish intent with strong momentum and volume.
🧱 Key Levels
🔵 Resistance Zones (Targets):
₹2,674.55 – recent swing high
₹2,869.00 – key psychological resistance
🔴 Support Level:
₹2,229.60 – neckline of cup & breakout retest zone
📉 Trendline:
Long descending trendline (white) has been broken on the upside
📊 Technical Indicators
📈 RSI (Relative Strength Index)
Currently at 63.93, comfortably in bullish territory
Recent “Bull” label marks bullish RSI divergence & breakout
Still has room to rise before overbought zone
✅ Conclusion
Cup pattern breakout with strong volume & positive RSI = bullish structure
Sustained move above ₹2,444 could invite targets of ₹2,670+ in coming sessions
Ideal setup for swing traders with a clear SL below ₹2,229
📉 Chart by: PriceAction_Pulse
📘 For educational use only. Always DYOR before making any trading decisions.
