Stock Name: CreditAccess Grameen (CREDITACC)
Trend: Bullish
Timeframe: Daily
Trade Setup
Entry Point: ₹1,163
Stop Loss: ₹1,089 (Risk: ~6.4% from entry)
Targets:
Target 1: ₹1,205.70
Target 2: ₹1,248.75
Target 3: ₹1,294.15
Target 4: ₹1,337.15
Final Target: ₹1,385
Technical Rationale for Breakout
Bullish Flag Pattern Breakout: Price has broken out of a Bullish Flag pattern, signaling a continuation of the prior uptrend.
200 DEMA Support: The stock crossed above and retested the 200-day Exponential Moving Average (DEMA), now acting as strong support.
RSI Strength:
Daily RSI: Above 60 (indicating bullish momentum).
Weekly RSI: Also above 60 (confirms broader bullish bias).
Volume Confirmation:
Breakout day volume: 4.0M (extremely high vs. previous day’s 406.05K), validating the breakout’s strength.
Key Observations
The combination of a Bullish Flag breakout, volume surge, and RSI strength suggests a high-probability trade.
The 200 DEMA support adds confluence to the bullish structure.
Risk Management Tips
Strictly adhere to the stop loss.
Trail stops as price progresses toward targets.
Consider partial profit booking at each target level.
Disclaimer
This analysis is for educational and informational purposes only and should not be construed as financial or investment advice. Trading in equities carries inherent risks, including the potential loss of capital. Always conduct your own due diligence and consult a certified financial advisor before making any investment decisions. Past performance is not indicative of future results. The author assumes no responsibility for financial losses or gains based on this post. Volume, price, and indicator data are subject to market volatility and may change rapidly.
Let me know your thoughts in the comments! Are you watching this setup? 📈🔍
Trend: Bullish
Timeframe: Daily
Trade Setup
Entry Point: ₹1,163
Stop Loss: ₹1,089 (Risk: ~6.4% from entry)
Targets:
Target 1: ₹1,205.70
Target 2: ₹1,248.75
Target 3: ₹1,294.15
Target 4: ₹1,337.15
Final Target: ₹1,385
Technical Rationale for Breakout
Bullish Flag Pattern Breakout: Price has broken out of a Bullish Flag pattern, signaling a continuation of the prior uptrend.
200 DEMA Support: The stock crossed above and retested the 200-day Exponential Moving Average (DEMA), now acting as strong support.
RSI Strength:
Daily RSI: Above 60 (indicating bullish momentum).
Weekly RSI: Also above 60 (confirms broader bullish bias).
Volume Confirmation:
Breakout day volume: 4.0M (extremely high vs. previous day’s 406.05K), validating the breakout’s strength.
Key Observations
The combination of a Bullish Flag breakout, volume surge, and RSI strength suggests a high-probability trade.
The 200 DEMA support adds confluence to the bullish structure.
Risk Management Tips
Strictly adhere to the stop loss.
Trail stops as price progresses toward targets.
Consider partial profit booking at each target level.
Disclaimer
This analysis is for educational and informational purposes only and should not be construed as financial or investment advice. Trading in equities carries inherent risks, including the potential loss of capital. Always conduct your own due diligence and consult a certified financial advisor before making any investment decisions. Past performance is not indicative of future results. The author assumes no responsibility for financial losses or gains based on this post. Volume, price, and indicator data are subject to market volatility and may change rapidly.
Let me know your thoughts in the comments! Are you watching this setup? 📈🔍
Related publications
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.
Related publications
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.