Stock: Sheela Foam Ltd
Timeframe: Daily (1D)
📉 Stock was in a consistent downtrend, but recently formed a solid base in a range.
✅ Today’s breakout above the resistance zone with strong volume indicates possible trend reversal.
🔍 Key Observations:
• Range breakout after consolidation
• Volume spike confirming buyer interest
• Still trading below 200 EMA (shown in blue), so short-term caution advised
📈 If price sustains above the breakout level, we may see a move toward the next resistance zones.
📍 Support: Previous resistance zone (now support)
📍 Resistance: 200 EMA and previous supply zone
🧠 Keep SL below range low for positional trades.
⚠️ This is not investment advice. Do your own research.
🔻 Disclaimer:
This chart idea is shared purely for educational and informational purposes. It does not constitute investment advice. Trading and investing in the stock market involve risk. Please consult your financial advisor before making any investment decisions.
Timeframe: Daily (1D)
📉 Stock was in a consistent downtrend, but recently formed a solid base in a range.
✅ Today’s breakout above the resistance zone with strong volume indicates possible trend reversal.
🔍 Key Observations:
• Range breakout after consolidation
• Volume spike confirming buyer interest
• Still trading below 200 EMA (shown in blue), so short-term caution advised
📈 If price sustains above the breakout level, we may see a move toward the next resistance zones.
📍 Support: Previous resistance zone (now support)
📍 Resistance: 200 EMA and previous supply zone
🧠 Keep SL below range low for positional trades.
⚠️ This is not investment advice. Do your own research.
🔻 Disclaimer:
This chart idea is shared purely for educational and informational purposes. It does not constitute investment advice. Trading and investing in the stock market involve risk. Please consult your financial advisor before making any investment decisions.
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.
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.