Key Observations:
Symmetrical Triangle Pattern:
The price was consolidating within a symmetrical triangle, marked by:
Descending trendline (upper resistance)
Ascending trendline (lower support)
Breakout:
On May 15, 2025, the stock broke out above the descending trendline with a strong bullish candle.
The breakout is accompanied by a significant increase in volume (5.3M), which validates the breakout strength.
Price Movement:
The stock closed at ₹77.04, up 9.56% for the day.
This strong move above resistance suggests the beginning of a potential uptrend.
Technical Implications:
Bullish Signal: The breakout from a consolidation pattern with high volume is a classic bullish indicator.
Resistance Turned Support: The breakout level around ₹68-₹70 could now act as a support zone.
Upside Targets (based on pattern height):
Approximate height of triangle: ₹88 (peak) - ₹58 (base) = ₹30
Projected target = Breakout level (₹70) + ₹30 = ₹100 (short- to medium-term target)
Conclusion:
This is a bullish breakout setup. Traders might consider this a buy signal with potential targets around ₹90–₹100, and a stop-loss near ₹68 to manage risk.
Symmetrical Triangle Pattern:
The price was consolidating within a symmetrical triangle, marked by:
Descending trendline (upper resistance)
Ascending trendline (lower support)
Breakout:
On May 15, 2025, the stock broke out above the descending trendline with a strong bullish candle.
The breakout is accompanied by a significant increase in volume (5.3M), which validates the breakout strength.
Price Movement:
The stock closed at ₹77.04, up 9.56% for the day.
This strong move above resistance suggests the beginning of a potential uptrend.
Technical Implications:
Bullish Signal: The breakout from a consolidation pattern with high volume is a classic bullish indicator.
Resistance Turned Support: The breakout level around ₹68-₹70 could now act as a support zone.
Upside Targets (based on pattern height):
Approximate height of triangle: ₹88 (peak) - ₹58 (base) = ₹30
Projected target = Breakout level (₹70) + ₹30 = ₹100 (short- to medium-term target)
Conclusion:
This is a bullish breakout setup. Traders might consider this a buy signal with potential targets around ₹90–₹100, and a stop-loss near ₹68 to manage risk.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.