CNX500 – 30-Min Long Trade Setup !📌 🚀
🔹 Asset: CNX500 (Nifty 500 Index)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Bullish Reversal Trade
📌 Trade Plan (Long Position)
✅ Entry Zone: Above ₹19,919 (Breakout Confirmation)
✅ Stop-Loss (SL): Below ₹19,585.45 (Invalidation Level)
🎯 Take Profit Targets:
📌 TP1: ₹20,333.35 (First Resistance Level)
📌 TP2: ₹20,887.00 (Extended Bullish Move)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance): ₹19,919 - ₹19,585.45 = ₹333.55 risk per unit
📈 Reward to TP1: ₹20,333.35 - ₹19,919 = ₹414.35 (1:1.2 R/R)
📈 Reward to TP2: ₹20,887.00 - ₹19,919 = ₹968.00 (1:2.9 R/R)
🔍 Technical Analysis & Strategy
📌 Descending Trendline Breakout: Price has broken out of a downtrend, signaling a potential reversal.
📌 Support Rejection: The price tested ₹19,919 support and showed buying pressure.
📌 Volume Confirmation Needed: Ensure high buying volume when price holds above ₹19,919 to confirm bullish momentum.
📌 Momentum Shift Expected: If price remains above ₹19,919, it could push toward ₹20,333.35, and further to ₹20,887.00.
📊 Key Support & Resistance Levels
🟢 ₹19,585.45 – Stop-Loss / Support Level
🟡 ₹19,919 – Breakout Level / Long Entry
🔴 ₹20,333.35 – First Resistance / TP1
🔴 ₹20,887.00 – Final Target / TP2
📉 Trade Execution & Risk Management
📊 Volume Confirmation: Ensure high buying volume above ₹19,919 before entering.
📉 Trailing Stop Strategy: Move SL to entry (₹19,919) after TP1 (₹20,333.35) is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at ₹20,333.35, let the rest run toward ₹20,887.00.
✔ Adjust Stop-Loss to Break-even (₹19,919) after TP1 is reached.
⚠️ Fake Breakout Risk
❌ If the price fails to hold above ₹19,919 and drops back, exit early to avoid losses.
❌ Wait for a strong bullish candle close above ₹19,919 before entering aggressively.
🚀 Final Thoughts
✔ Bullish Setup – Bouncing from support at ₹19,919 suggests a potential reversal.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:1.2 to TP1, 1:2.9 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀📈
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