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SKY GOLD AND DIAMONDS LTDSKY GOLD AND DIAMONDS LTDSKY GOLD AND DIAMONDS LTD

SKY GOLD AND DIAMONDS LTD

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SKYGOLD trade ideas

SKYGOLD Near 200 EMA | Accumulation Phase with Strength📈 Chart Timeframe: Daily SKYGOLD is currently trading above the 200 EMA after multiple attempts to hold this zone. This suggests strong support at that level. Recent candles are forming higher lows, indicating a possible accumulation phase. RSI is also recovering from the 40–50 zone, showing early strength. Volume spike seen in recent sessions could be an early sign of interest by participants. 🔍 I’m observing this structure closely for a possible breakout, only if supported by volume. This is not a buy/sell recommendation. Just sharing a chart study for learning and discussion. Disclaimer: This post is only for educational purposes. I am not SEBI registered. Please do your own analysis before making any trading decision.
NSE:SKYGOLD
by ELEARNSTOCKTRADER
SKYGOLD Bullish Reversal Setup as Falling Wedge Breakout Complet🟩 SKYGOLD (15M) | NSE | Heikin Ashi 🟢 LONG BIAS 📅 Updated: July 17 --- 🔍 Description SKYGOLD has emerged from a prolonged corrective phase, breaking out of a well-defined falling wedge pattern on the 15-minute chart. The price action has respected a clean Elliott Wave ABCDE structure within the wedge, suggesting a completed consolidation cycle. With bullish momentum building above ₹325, the stock now appears poised for a breakout rally towards ₹344.45. This setup reflects both a technical breakout and possible short-covering rally, making it an attractive opportunity for short-term swing traders. However, risk remains below the ₹320.40 zone, which invalidates the breakout structure if breached. --- 📊 Technical Structure (15M) ✅ Breakout above wedge resistance ✅ ABCDE wave structure complete (classic consolidation) ✅ Impulse targets in sight 📌 Upside Targets First: ₹325.75 Final: ₹344.45 🔻 Risk Zone Below: ₹320.40 (Breakdown invalidates setup) --- 📈 Fundamental/Flow Highlights Sector Sentiment: Positive traction in mid-cap jewellery and gems segment. Volume Spike: Notable rise in volume on breakout candle. Short-Covering Potential: Highly likely due to prolonged consolidation. --- ⚠️ Risks to Watch Sudden broad market correction in Nifty Midcap segment. Lack of follow-through volume post-breakout. Intraday rejection near ₹344 zone (previous supply). --- 🧭 Summary: Bias and Watchpoints SKYGOLD is bullish above ₹325 with a breakout structure favoring continued upside toward ₹344.45. As long as the price holds above ₹320.40, the long thesis remains valid. Watch volume confirmation, and use trailing SL to lock gains.
NSE:SKYGOLDLong
by Greenfireforex