Mazda Ltd is showing strong potential for further upside after breaking out from a long consolidation zone on the weekly chart. Here's the detailed analysis and trade strategy:
📊 Chart Overview
🎯 Fibonacci Targets
📈 Trading Strategy
✅ Entry Plan: Wait for a pullback to the ₹1,600–₹1,650 zone, where the breakout level is expected to act as support. Enter on bullish reversal candlestick patterns (e.g., hammer, bullish engulfing) or increased volume near support.
❌ Stop-Loss: Place a stop-loss below ₹1,500, which is both the lower boundary of the breakout zone and a psychological support level.
🔄 Trailing Stop-Loss:
Start with a fixed stop-loss. As the price moves upward, adjust:
₹1,800 after the retest.
₹2,150 as the price nears Target 1.
⚠️ Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your research and consult a professional before making trading decisions.
📊 Chart Overview
- Breakout Confirmation: The stock broke out from the ₹1,550–₹1,600 consolidation zone with strong bullish momentum. The breakout was supported by a significant increase in volume, confirming solid buyer participation.
- Retest Likely: A pullback to the breakout level of ₹1,600–₹1,650 is expected, providing an ideal entry point for long trades.
🎯 Fibonacci Targets
- Breakout Level: ₹1,600 (0% Fibonacci extension).
- Target 1: ₹2,150 (61.8% Fibonacci extension).
- Target 2: ₹2,450 (100% Fibonacci extension).
📈 Trading Strategy
✅ Entry Plan: Wait for a pullback to the ₹1,600–₹1,650 zone, where the breakout level is expected to act as support. Enter on bullish reversal candlestick patterns (e.g., hammer, bullish engulfing) or increased volume near support.
❌ Stop-Loss: Place a stop-loss below ₹1,500, which is both the lower boundary of the breakout zone and a psychological support level.
🔄 Trailing Stop-Loss:
Start with a fixed stop-loss. As the price moves upward, adjust:
₹1,800 after the retest.
₹2,150 as the price nears Target 1.
⚠️ Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your research and consult a professional before making trading decisions.
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.
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.