📈 Chart Observations (1D timeframe):
Price: ₹1,399.30
Recent Highs: The stock attempted a breakout above the ₹1,400–1,430 zone, which has acted as strong resistance since mid-2024.
Previous Breakout Zone: The big rally from around ₹800 to ₹1,800 happened in early 2024, followed by a long consolidation.
Structure: A cup and handle pattern is potentially forming, with the handle nearing completion.
Volume (not visible): Should be checked for confirmation if you plan to enter.
✅ Positional Trade Setup
Entry Zone:
✅ Aggressive: ₹1,395–₹1,405 (current levels)
✅ Safe Entry: On a daily close above ₹1,430 with good volume
Targets:
🎯 Target 1: ₹1,520
🎯 Target 2: ₹1,650
🎯 Target 3 (long-term): ₹1,800+
Stop-Loss:
🛑 SL: ₹1,310 (below the recent swing low & handle support)
Holding Period:
📅 4–8 weeks for initial targets
Can trail SL for longer trend holding if ₹1,800+ is breached
⚠️ Key Levels to Watch:
Support: ₹1,310 | ₹1,250
Resistance: ₹1,430 | ₹1,520 | ₹1,650
Price: ₹1,399.30
Recent Highs: The stock attempted a breakout above the ₹1,400–1,430 zone, which has acted as strong resistance since mid-2024.
Previous Breakout Zone: The big rally from around ₹800 to ₹1,800 happened in early 2024, followed by a long consolidation.
Structure: A cup and handle pattern is potentially forming, with the handle nearing completion.
Volume (not visible): Should be checked for confirmation if you plan to enter.
✅ Positional Trade Setup
Entry Zone:
✅ Aggressive: ₹1,395–₹1,405 (current levels)
✅ Safe Entry: On a daily close above ₹1,430 with good volume
Targets:
🎯 Target 1: ₹1,520
🎯 Target 2: ₹1,650
🎯 Target 3 (long-term): ₹1,800+
Stop-Loss:
🛑 SL: ₹1,310 (below the recent swing low & handle support)
Holding Period:
📅 4–8 weeks for initial targets
Can trail SL for longer trend holding if ₹1,800+ is breached
⚠️ Key Levels to Watch:
Support: ₹1,310 | ₹1,250
Resistance: ₹1,430 | ₹1,520 | ₹1,650
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.