Key Levels:
Entry Point: The breakout from the handle, around the ₹1,198.45 level, suggests a potential entry point.
Target Price: The measured move from the bottom of the cup to the resistance level (height of the cup) is projected upwards, targeting around ₹1,386.50, which is approximately 17-19% above the entry point.
Stop Loss: Positioned near ₹1,150.25, which is slightly below the recent swing low to manage risk.
My View:
Bullish Bias: The successful breakout from the handle suggests a continuation of the uptrend, making it a bullish signal.
Risk Management: The stop loss level is appropriately set to limit potential downside risk.
Volume Confirmation: A notable increase in trading volume would provide additional confirmation for the strength of the breakout.
Entry Point: The breakout from the handle, around the ₹1,198.45 level, suggests a potential entry point.
Target Price: The measured move from the bottom of the cup to the resistance level (height of the cup) is projected upwards, targeting around ₹1,386.50, which is approximately 17-19% above the entry point.
Stop Loss: Positioned near ₹1,150.25, which is slightly below the recent swing low to manage risk.
My View:
Bullish Bias: The successful breakout from the handle suggests a continuation of the uptrend, making it a bullish signal.
Risk Management: The stop loss level is appropriately set to limit potential downside risk.
Volume Confirmation: A notable increase in trading volume would provide additional confirmation for the strength of the breakout.
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.