📌 CMP (May 2, 2025): ₹2,728
🧭 Sector: Industrial Bearings & Motion Solutions
📈 Signal: Breakout from falling channel with strong volume confirmation
🔹 Technical Summary
Breakout Pattern: Price has decisively broken out of a long-term falling channel after a 10-month downtrend.
Volume Spike: Breakout accompanied by significant volume spike (highest in over a year) – strong institutional interest.
Momentum: RSI has broken above resistance line (~55), confirming bullish momentum.
🧭 Trade Setup
✅ Buy Zone (Swing Trade/Positional)
Buy Above: ₹2,750
Target 1: ₹2,900
Target 2: ₹3,050
Target 3: ₹3,280
Stop-Loss: ₹2,490 (just below recent breakout candle)
Timeframe: 2–6 weeks
Risk-Reward Ratio: ~1:2.5 (good for swing setups)
🚫 Invalidation Level:
Breakdown and close below ₹2,490 on weekly timeframe.
For Education purposes only
🧭 Sector: Industrial Bearings & Motion Solutions
📈 Signal: Breakout from falling channel with strong volume confirmation
🔹 Technical Summary
Breakout Pattern: Price has decisively broken out of a long-term falling channel after a 10-month downtrend.
Volume Spike: Breakout accompanied by significant volume spike (highest in over a year) – strong institutional interest.
Momentum: RSI has broken above resistance line (~55), confirming bullish momentum.
🧭 Trade Setup
✅ Buy Zone (Swing Trade/Positional)
Buy Above: ₹2,750
Target 1: ₹2,900
Target 2: ₹3,050
Target 3: ₹3,280
Stop-Loss: ₹2,490 (just below recent breakout candle)
Timeframe: 2–6 weeks
Risk-Reward Ratio: ~1:2.5 (good for swing setups)
🚫 Invalidation Level:
Breakdown and close below ₹2,490 on weekly timeframe.
For Education purposes only
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.