📊 Chart Highlights:
Current Price: ₹1,023
Fibonacci Resistance: Price is approaching the 0.618 Fib level at ₹1,027.60, which is a key resistance.
Box Range: Trading within a consolidation box (approx. ₹940–₹1,030) — currently testing the upper end of the range.
Volume: Volume is moderate; not a strong breakout candle yet.
RSI: Trending upwards, nearing overbought (above 60), positive momentum.
Heikin Ashi Candles: Showing bullish strength.
✅ Recommendation: BUY (on confirmation)
📌 Buy Entry:
Buy above ₹1,035 only on breakout confirmation with volume (i.e., daily close above ₹1,035).
🎯 Targets:
Target 1: ₹1,090 (Fib 0.786 level)
Target 2: ₹1,170 (Fib 1.0 level)
Target 3: ₹1,270 (Fib 1.272 extension)
❌ Stop Loss:
Place SL around ₹980 (just below the Fib 0.5 level and EMA cluster)
⚠️ If Rejected at ₹1,030:
Consider range trading: Sell near ₹1,030 with target ₹940–₹950 and SL ₹1,040.
Wait for a clean breakout or breakdown before taking large positions.
Current Price: ₹1,023
Fibonacci Resistance: Price is approaching the 0.618 Fib level at ₹1,027.60, which is a key resistance.
Box Range: Trading within a consolidation box (approx. ₹940–₹1,030) — currently testing the upper end of the range.
Volume: Volume is moderate; not a strong breakout candle yet.
RSI: Trending upwards, nearing overbought (above 60), positive momentum.
Heikin Ashi Candles: Showing bullish strength.
✅ Recommendation: BUY (on confirmation)
📌 Buy Entry:
Buy above ₹1,035 only on breakout confirmation with volume (i.e., daily close above ₹1,035).
🎯 Targets:
Target 1: ₹1,090 (Fib 0.786 level)
Target 2: ₹1,170 (Fib 1.0 level)
Target 3: ₹1,270 (Fib 1.272 extension)
❌ Stop Loss:
Place SL around ₹980 (just below the Fib 0.5 level and EMA cluster)
⚠️ If Rejected at ₹1,030:
Consider range trading: Sell near ₹1,030 with target ₹940–₹950 and SL ₹1,040.
Wait for a clean breakout or breakdown before taking large positions.
Trade active
Breakout and current price = 1044
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.