🚀 Edelweiss Financial Services: Prempting a Big Breakout! 🚀
📉 CMP: ₹117
🔒 Stop Loss: ₹89
🎯 Targets: ₹145 | ₹159 | ₹195
🔍 Why Edelweiss Looks Ready for a Major Move?
✔️ Long-term Sideways Consolidation:
The stock has been consolidating for several months, indicating strong base formation.
✔️ Rounding Bottom Pattern:
Price structure shows a rounding bottom, suggesting accumulation at lower levels.
✔️ Box Compression:
Downside has been reducing with higher lows — a bullish sign of energy buildup.
✔️ Weekly Resistance Close:
Price is closing near resistance levels on a weekly timeframe, hinting at a potential breakout.
📈 Strategy:
Buy in tranches, since this is a pre-breakout entry. Gradual accumulation helps manage risk.
⚠️ Clarification:
This is an independent analysis based purely on technical and market study.
Religare Broking Limited is not involved in this view or recommendation.
📝 Important:
I am not responsible for any loss or profit.
I do not charge any fees – this is purely for educational and informational purposes.
📉 Disclaimer:
Not SEBI-registered. Please do your own research or consult a financial advisor before investing.
📉 CMP: ₹117
🔒 Stop Loss: ₹89
🎯 Targets: ₹145 | ₹159 | ₹195
🔍 Why Edelweiss Looks Ready for a Major Move?
✔️ Long-term Sideways Consolidation:
The stock has been consolidating for several months, indicating strong base formation.
✔️ Rounding Bottom Pattern:
Price structure shows a rounding bottom, suggesting accumulation at lower levels.
✔️ Box Compression:
Downside has been reducing with higher lows — a bullish sign of energy buildup.
✔️ Weekly Resistance Close:
Price is closing near resistance levels on a weekly timeframe, hinting at a potential breakout.
📈 Strategy:
Buy in tranches, since this is a pre-breakout entry. Gradual accumulation helps manage risk.
⚠️ Clarification:
This is an independent analysis based purely on technical and market study.
Religare Broking Limited is not involved in this view or recommendation.
📝 Important:
I am not responsible for any loss or profit.
I do not charge any fees – this is purely for educational and informational purposes.
📉 Disclaimer:
Not SEBI-registered. Please do your own research or consult a financial advisor before investing.
Note
same on smaller view we can see resistance near 61.8% fibonaaci level
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.