📌 Market Overview:
The price has been in a downtrend, forming a descending channel.
Currently trading near 9.20, with 10.00 acting as a key resistance.
A bullish breakout from the descending channel appears to be forming.
RSI breakout above trendline resistance suggests increasing bullish momentum.
📈 Trade Plan: Long Position (BUY Setup)
Entry: At Current Market Price (CMP) ~9.20
🎯 Take Profit Targets:
First Target (Resistance Level): 10.00
Second Target: 13.00
Final Target (Long-term Potential): 17.00+
🔻 Stop-Loss: Below 8.50, as a drop below this level invalidates the bullish setup.
The price has been in a downtrend, forming a descending channel.
Currently trading near 9.20, with 10.00 acting as a key resistance.
A bullish breakout from the descending channel appears to be forming.
RSI breakout above trendline resistance suggests increasing bullish momentum.
📈 Trade Plan: Long Position (BUY Setup)
Entry: At Current Market Price (CMP) ~9.20
🎯 Take Profit Targets:
First Target (Resistance Level): 10.00
Second Target: 13.00
Final Target (Long-term Potential): 17.00+
🔻 Stop-Loss: Below 8.50, as a drop below this level invalidates the bullish setup.
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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.