Price Action:
Current Price: ₹1,435.20 (+13.02% today)
Recent Range: ₹1,270 (L) – ₹1,519 (H)
Strong breakout above ₹1,400 resistance (now support).
Indicators:
Supertrend (10,3): Bullish (Green line) – Confirms uptrend.
TEMA (5.9,20): Rising – Momentum favors bulls.
Volume: Spike on upside move (not shown but implied by 13% rally).
🎯 Positional Trade Plan:
✅ Entry:
Buy Zone: ₹1,400-1,430 (Pullback to breakout level).
Confirmation: Close above ₹1,450 with volume.
🛑 Stop Loss:
₹1,300 (Below recent swing low & Supertrend support).
Risk: ~7-8% from entry.
🎯 Target:
Short-Term (1-2 weeks): ₹1,550 (Previous high).
Positional (1-3 months): ₹1,700-1,800 (All-time high zone).
📊 Risk-Reward: 1:3 (₹100 risk vs. ₹300+ reward).
💡 Trading Notes:
Trend Bias: Bullish (Supertrend + Higher Highs/Lows).
Watch For:
Profit-booking near ₹1,500-1,520.
Close below ₹1,400 invalidates setup.
Sector Tailwind: Pharma stocks showing strength.
Current Price: ₹1,435.20 (+13.02% today)
Recent Range: ₹1,270 (L) – ₹1,519 (H)
Strong breakout above ₹1,400 resistance (now support).
Indicators:
Supertrend (10,3): Bullish (Green line) – Confirms uptrend.
TEMA (5.9,20): Rising – Momentum favors bulls.
Volume: Spike on upside move (not shown but implied by 13% rally).
🎯 Positional Trade Plan:
✅ Entry:
Buy Zone: ₹1,400-1,430 (Pullback to breakout level).
Confirmation: Close above ₹1,450 with volume.
🛑 Stop Loss:
₹1,300 (Below recent swing low & Supertrend support).
Risk: ~7-8% from entry.
🎯 Target:
Short-Term (1-2 weeks): ₹1,550 (Previous high).
Positional (1-3 months): ₹1,700-1,800 (All-time high zone).
📊 Risk-Reward: 1:3 (₹100 risk vs. ₹300+ reward).
💡 Trading Notes:
Trend Bias: Bullish (Supertrend + Higher Highs/Lows).
Watch For:
Profit-booking near ₹1,500-1,520.
Close below ₹1,400 invalidates setup.
Sector Tailwind: Pharma stocks showing strength.
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.