🟢 Trend:
Primary Trend: Strong uptrend since mid-2023.
Price is making higher highs and higher lows with strong bullish candles.
Weekly close at ₹1,913, near its all-time high zone.
🔷 Chart Pattern:
Bullish Flag / Range Breakout Formation:
After a strong rally from ₹1,300 to ₹1,900, price entered a consolidation phase (flag).
The current weekly candle has broken out of this narrow range near ₹1,870–₹1,890, signaling a continuation breakout.
🔼 Breakout Level:
Breakout Resistance Zone: ₹1,870–₹1,890
Current price: ₹1,913 → Confirmed breakout with strong bullish candle.
📊 Volume Analysis:
Volume has increased significantly during the breakout candle, showing strong institutional interest.
Previous resistance zones also showed high volume spikes, validating demand zones.
🎯 Target (Based on Flagpole Projection):
Pole height: ₹1,900 - ₹1,300 = ₹600
Breakout level: ₹1,880
Target = ₹1,880 + ₹600 = ₹2,480
🛑 Stop Loss:
Ideal stop loss just below breakout base:
₹1,750 (Weekly close basis)
📌 Summary:
Parameter Value
Trend Strong Bullish
Pattern Flag / Range Breakout
Breakout Level ₹1,880–₹1,890
CMP ₹1,913
Target ₹2,400–₹2,480
Stop Loss ₹1,750 (weekly close)
Volume Strong and rising
Primary Trend: Strong uptrend since mid-2023.
Price is making higher highs and higher lows with strong bullish candles.
Weekly close at ₹1,913, near its all-time high zone.
🔷 Chart Pattern:
Bullish Flag / Range Breakout Formation:
After a strong rally from ₹1,300 to ₹1,900, price entered a consolidation phase (flag).
The current weekly candle has broken out of this narrow range near ₹1,870–₹1,890, signaling a continuation breakout.
🔼 Breakout Level:
Breakout Resistance Zone: ₹1,870–₹1,890
Current price: ₹1,913 → Confirmed breakout with strong bullish candle.
📊 Volume Analysis:
Volume has increased significantly during the breakout candle, showing strong institutional interest.
Previous resistance zones also showed high volume spikes, validating demand zones.
🎯 Target (Based on Flagpole Projection):
Pole height: ₹1,900 - ₹1,300 = ₹600
Breakout level: ₹1,880
Target = ₹1,880 + ₹600 = ₹2,480
🛑 Stop Loss:
Ideal stop loss just below breakout base:
₹1,750 (Weekly close basis)
📌 Summary:
Parameter Value
Trend Strong Bullish
Pattern Flag / Range Breakout
Breakout Level ₹1,880–₹1,890
CMP ₹1,913
Target ₹2,400–₹2,480
Stop Loss ₹1,750 (weekly close)
Volume Strong and rising
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.