VIMTALABS 📈 Stock: Vimta Labs Ltd
🗓️ Timeframe: Daily Chart
💡 Technical Concept: Breakout from Strong Resistance with Volume and RSI Confirmation
🔍 Technical Breakdown:
Resistance Zone:
Price faced multiple rejections near ₹1,150–₹1,160, forming a strong horizontal resistance.
Breakout Candle:
On the latest candle, price closed above resistance with a +10% move and high volume (see blue arrow), indicating strong buyer interest.
RSI Breakout:
RSI broke above its resistance near 70, showing bullish momentum confirmation (orange highlight).
🎯 Trade Plan: Intraday + Short-Term
✅ Intraday Plan
Buy Above: ₹1,160
Target: ₹1,200
Stoploss: ₹1,125
📊 Short-Term Swing Trade
Buy on Retest: ₹1,130–₹1,150 (if pullback happens)
Target 1: ₹1,250
Target 2: ₹1,320
Stoploss: ₹1,080 (below breakout candle)
