NETWORK18 Breakout

143
๐Ÿงพ Chart Analysis Summary (Daily Timeframe)
Key Details Value
๐Ÿ“ˆ CMP โ‚น63.14
๐Ÿ”บ Daily Gain +โ‚น7.43 (+13.34%)
๐Ÿ“Š Volume 318.44M (very strong volume)
๐Ÿงฑ Pattern ABC corrective structure + triangle breakout
๐Ÿ“ Setup Type Breakout + Pullback + Entry

๐Ÿ” Technical Analysis Insights
๐ŸŸข Bullish Structure
๐Ÿ”ผ ABC Correction: Chart shows A-B-C correction forming a falling wedge/triangle.

โœ… Breakout Confirmed: A strong bullish candle broke the range with high volume, confirming breakout.

๐Ÿ”„ Retest Entry Area: Entry zone is marked between โ‚น61โ€“โ‚น63 โ€” current price is near the ideal buying zone.

๐Ÿงฑ Support Trendline: Strong diagonal support is visible; price is above it.

๐Ÿ“ฆ Volume Spike
The huge green candle breakout has volume > 3x recent average, indicating strong buyer interest.

๐ŸŽฏ Trade Setup Parameters
Element Level / Note
๐Ÿ›’ Entry โ‚น61โ€“โ‚น63 (CMP is inside entry zone)
๐Ÿ›‘ Stop Loss โ‚น58 (below breakout structure)
๐ŸŽฏ Target 1 (1.5x) โ‚น71โ€“โ‚น72 (around 13.35% up)
๐Ÿงฑ Target 2 โ‚น77โ€“โ‚น80 (next resistance zone)
โš–๏ธ Risk:Reward 1:1.5+

๐Ÿ’ก Observations
โœ… Volume + Breakout + Retest = High Probability Trade.

โš ๏ธ Monitor for consolidation between โ‚น64โ€“โ‚น67 before momentum resumes.

๐Ÿ“Œ Trail stop loss or partial booking advised near first target.

๐Ÿ“ Conclusion
This is a textbook breakout-retest-buy setup with:

Strong structure

Clear SL & target

Volume confirmation

Risk:Reward in favor

Penafian

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