Key Observations:
1️⃣ Bullish RSI Divergence:
The RSI indicates a bullish divergence, suggesting potential reversal or upside momentum.
2️⃣ Breakout from Descending Channel:
After a period of consolidation within the descending channel, the stock has broken out, supported by improving momentum.
3️⃣ Volume Profile Support:
Strong accumulation zone observed between ₹1,440-₹1,490, indicating demand at these levels.
4️⃣ Fibonacci Levels:
Resistance levels are identified at ₹1,491, ₹1,541, ₹1,591, and ₹1,634 based on Fibonacci retracements.
5️⃣ Moving Averages:
The stock is trading above key short-term moving averages, reinforcing the positive trend.
Trading Strategy:
🚀 For Long Positions:
⚠️ Risk Management:
If the stock re-enters the descending channel, it could invalidate the bullish outlook. Monitor price action and volume closely.
Outlook:
With the RSI divergence, breakout confirmation, and strong support at ₹1,440, United Spirits Ltd. presents a promising bullish setup for short- to medium-term gains. Watch for sustained volume as the price approaches resistance levels.
💬 Your Thoughts?
What’s your take on this setup? Share your views below! 🚀
1️⃣ Bullish RSI Divergence:
The RSI indicates a bullish divergence, suggesting potential reversal or upside momentum.
2️⃣ Breakout from Descending Channel:
After a period of consolidation within the descending channel, the stock has broken out, supported by improving momentum.
3️⃣ Volume Profile Support:
Strong accumulation zone observed between ₹1,440-₹1,490, indicating demand at these levels.
4️⃣ Fibonacci Levels:
Resistance levels are identified at ₹1,491, ₹1,541, ₹1,591, and ₹1,634 based on Fibonacci retracements.
5️⃣ Moving Averages:
The stock is trading above key short-term moving averages, reinforcing the positive trend.
Trading Strategy:
🚀 For Long Positions:
- Entry Zone: ₹1,440–₹1,460 (if price sustains above breakout level).
- Targets: ₹1,491, ₹1,541, ₹1,591.
- Stop-Loss: ₹1,430 (below support zone).
⚠️ Risk Management:
If the stock re-enters the descending channel, it could invalidate the bullish outlook. Monitor price action and volume closely.
Outlook:
With the RSI divergence, breakout confirmation, and strong support at ₹1,440, United Spirits Ltd. presents a promising bullish setup for short- to medium-term gains. Watch for sustained volume as the price approaches resistance levels.
💬 Your Thoughts?
What’s your take on this setup? Share your views below! 🚀
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.