Trading Idea: Gravita India Ltd (NSE) 📊 Pattern Formation:
Gravita India is forming an ascending triangle pattern on the daily chart, a bullish continuation setup.
The stock is consolidating above key EMAs (20, 50, and 200), indicating strong momentum.
💡 Entry Zone:
A breakout above the resistance at ₹2,260 could present a buying opportunity.
🎯 Target:
Upside potential target at ₹2,600, aligning with the triangle's breakout projection.
🛑 Stop Loss:
Set your stop-loss at ₹2,186, just below the lower trendline, to manage risk.
📈 Volume Confirmation:
Ensure higher volumes during the breakout to validate the move.
⚖️ Risk-to-Reward Ratio:
Attractive 2:1 risk-to-reward ratio, making it a favorable setup.
