Technical Analysis Notes :
Chart Type & Timeframe
Pattern Observed
Volume Analysis
Price Action
Support & Resistance
Indicators & Signals
Conclusion
Bias: Bullish
Trade Idea:
Buy on dips near ₹1,250–₹1,280
Stop Loss: Below ₹1,200
Targets: ₹1,400 (short term), ₹1,500+ (medium term)
Chart Type & Timeframe
- Timeframe: Weekly (1W)
- Instrument: KPR Mill Ltd (NSE)
- Currency: INR
Pattern Observed
- Rising Wedge Pattern identified, typically bearish.
- Bullish breakout above the upper trendline, invalidating the bearish setup.
- Breakout indicates strong bullish momentum.
Volume Analysis
- Significant volume spike during breakout candle.
- Confirms institutional participation and breakout reliability.
Price Action
- Breakout occurred above resistance zone of ₹1,200–₹1,250.
- Strong weekly close at ₹1,306.25, up +26.83%.
- Candle indicates high conviction buying.
Support & Resistance
- Support (former resistance): ₹1,200–₹1,250
- Immediate resistance: Around ₹1,400
- Next resistance zone (projected): ₹1,500–₹1,600
Indicators & Signals
- No indicators shown, but price action and volume strongly bullish.
- Long breakout candle = momentum confirmation.
Conclusion
Bias: Bullish
Trade Idea:
Buy on dips near ₹1,250–₹1,280
Stop Loss: Below ₹1,200
Targets: ₹1,400 (short term), ₹1,500+ (medium term)
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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.