Timeframe: Weekly | Strategy: Breakout–Pullback (BPB)
Technical Highlights:
========================
✅ BO (Breakout) of a major resistance zone around ₹250–₹255, which was acting as a multi-year supply zone.
📈 Strong bullish momentum seen with expanding volumes and wide-range candles.
🔄 BPB Strategy in Play: Price has broken out and now likely to retest the breakout zone.
🧠 Retest near ₹249–₹255 zone expected to provide fresh momentum.
📊 RSI confirms strength, currently above 70 – confirming a trending phase.
🔍 Key Zones:
===================
Breakout Level: ₹250 (Previous Resistance, now Support)
Immediate Resistance: ₹295–₹300
Target (Post BPB Confirmation): ₹330+
Support for Invalidating BPB: Weekly close below ₹245
📈 Trade Plan (for study purpose only):
=============================================
Wait for price to pull back into ₹250–₹255 zone.
Look for bullish candle confirmation on retest for entry.
SL: Below ₹245 | T1: ₹295 | T2: ₹330
⚠️ Disclaimer:
This idea is purely for educational purposes and does not constitute investment advice. Please consult your financial advisor before making any trading or investment decisions. Always do your own research and risk management.
Technical Highlights:
========================
✅ BO (Breakout) of a major resistance zone around ₹250–₹255, which was acting as a multi-year supply zone.
📈 Strong bullish momentum seen with expanding volumes and wide-range candles.
🔄 BPB Strategy in Play: Price has broken out and now likely to retest the breakout zone.
🧠 Retest near ₹249–₹255 zone expected to provide fresh momentum.
📊 RSI confirms strength, currently above 70 – confirming a trending phase.
🔍 Key Zones:
===================
Breakout Level: ₹250 (Previous Resistance, now Support)
Immediate Resistance: ₹295–₹300
Target (Post BPB Confirmation): ₹330+
Support for Invalidating BPB: Weekly close below ₹245
📈 Trade Plan (for study purpose only):
=============================================
Wait for price to pull back into ₹250–₹255 zone.
Look for bullish candle confirmation on retest for entry.
SL: Below ₹245 | T1: ₹295 | T2: ₹330
⚠️ Disclaimer:
This idea is purely for educational purposes and does not constitute investment advice. Please consult your financial advisor before making any trading or investment decisions. Always do your own research and risk management.
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.