📊 Technical Analysis Overview:
Poonawalla Fincorp is showing strong bullish momentum and is currently a probable flag breakout candidate. The stock has crossed the 200-day EMA with high volume, indicating strong institutional participation. Additionally, RSI is above 70, confirming bullish strength.
📌 Trade Setup & Key Levels
✅ Buy Entry: ₹357
🚨 Stop Loss: ₹333
🎯 Target Levels:
🔹 Target 1: ₹399.10
🔹 Target 2: ₹414.20
🔹 Target 3: ₹429.85
🔹 Target 4: ₹570.50
🔹 Target 5: ₹584.55
📈 Technical Observations
🔹 Flag Breakout Formation: The stock is attempting a breakout from a bullish flag pattern, which often leads to strong uptrends.
🔹 Volume Confirmation: A surge in volume alongside the breakout increases the probability of sustained upside.
🔹 200 DEMA Crossover: The price has successfully crossed the 200-day EMA, a strong bullish signal.
🔹 RSI Above 70: Indicates strong momentum, though a short-term pullback cannot be ruled out.
⚠️ Risk Management & Final Thoughts
Always use proper risk management to protect capital. The stop loss at ₹333 ensures a controlled downside, while the upside targets provide a strong risk-reward ratio.
📢 Watch for Retest: If the price retests the ₹357 level after the breakout and holds, it could provide another buying opportunity.
📊 What do you think? Will Poonawalla Fincorp continue its rally? Share your thoughts in the comments! 👇
Poonawalla Fincorp is showing strong bullish momentum and is currently a probable flag breakout candidate. The stock has crossed the 200-day EMA with high volume, indicating strong institutional participation. Additionally, RSI is above 70, confirming bullish strength.
📌 Trade Setup & Key Levels
✅ Buy Entry: ₹357
🚨 Stop Loss: ₹333
🎯 Target Levels:
🔹 Target 1: ₹399.10
🔹 Target 2: ₹414.20
🔹 Target 3: ₹429.85
🔹 Target 4: ₹570.50
🔹 Target 5: ₹584.55
📈 Technical Observations
🔹 Flag Breakout Formation: The stock is attempting a breakout from a bullish flag pattern, which often leads to strong uptrends.
🔹 Volume Confirmation: A surge in volume alongside the breakout increases the probability of sustained upside.
🔹 200 DEMA Crossover: The price has successfully crossed the 200-day EMA, a strong bullish signal.
🔹 RSI Above 70: Indicates strong momentum, though a short-term pullback cannot be ruled out.
⚠️ Risk Management & Final Thoughts
Always use proper risk management to protect capital. The stop loss at ₹333 ensures a controlled downside, while the upside targets provide a strong risk-reward ratio.
📢 Watch for Retest: If the price retests the ₹357 level after the breakout and holds, it could provide another buying opportunity.
📊 What do you think? Will Poonawalla Fincorp continue its rally? Share your thoughts in the comments! 👇
Trade active
Completed first target.... Enjoy the moneyrain guysssssss.......Trade closed: target reached
1st Target Completed......Enjoy the moneyrain guys.......
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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.