Analysis:
The chart displays a rising wedge pattern, indicating potential bullish momentum. The price is approaching the upper boundary of the wedge, suggesting a possible breakout. Key resistance is at 8,619.70 INR, with a target towards 8,972.10 INR if the breakout occurs. Support is at 8,115.65 INR.
Trade Idea:
Bullish Scenario: Breakout above 8,619.70 INR could lead to a rally.
Bearish Scenario: Failure to break out may see a drop to 8,115.65 INR.
The chart displays a rising wedge pattern, indicating potential bullish momentum. The price is approaching the upper boundary of the wedge, suggesting a possible breakout. Key resistance is at 8,619.70 INR, with a target towards 8,972.10 INR if the breakout occurs. Support is at 8,115.65 INR.
Trade Idea:
Bullish Scenario: Breakout above 8,619.70 INR could lead to a rally.
Bearish Scenario: Failure to break out may see a drop to 8,115.65 INR.
Note
SL hit
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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.