BUY Setup 🏢
Entry: ₹1,737-1,745 (Current Level)
Target 1: ₹1,800-1,820
Target 2: ₹1,880-1,900
Target 3: ₹1,950-2,000 (Extended)
Stop Loss: ₹1,680
Technical Rationale:
Breaking above long-term descending trendline (from 2024 highs)
Price at critical resistance zone - potential breakout imminent
Weekly chart showing bullish momentum with +1.81% gain
Testing 1,745 resistance level - last major hurdle before rally
Strong support base at 1,000-1,200 zone visible
RSI around 65 on weekly - healthy momentum
Volume at 1.21M showing institutional interest
Real estate sector showing renewed strength
Multiple touches on trendline indicating strong resistance turned support
Risk-Reward: Strong 1:4+ ratio
Pattern: Descending channel breakout on weekly timeframe - highly reliable bullish signal
Strategy: Positional/swing trade - Book 30% at T1 (1,810), 30% at T2 (1,890), trail remaining with SL at 1,750 after T1 achieved
Key Levels:
Critical Resistance: 1,745-1,750 (breakout zone)
Support: 1,680, 1,620, 1,550
Timeframe: Weekly chart suggests this is a medium-term positional opportunity
Entry: ₹1,737-1,745 (Current Level)
Target 1: ₹1,800-1,820
Target 2: ₹1,880-1,900
Target 3: ₹1,950-2,000 (Extended)
Stop Loss: ₹1,680
Technical Rationale:
Breaking above long-term descending trendline (from 2024 highs)
Price at critical resistance zone - potential breakout imminent
Weekly chart showing bullish momentum with +1.81% gain
Testing 1,745 resistance level - last major hurdle before rally
Strong support base at 1,000-1,200 zone visible
RSI around 65 on weekly - healthy momentum
Volume at 1.21M showing institutional interest
Real estate sector showing renewed strength
Multiple touches on trendline indicating strong resistance turned support
Risk-Reward: Strong 1:4+ ratio
Pattern: Descending channel breakout on weekly timeframe - highly reliable bullish signal
Strategy: Positional/swing trade - Book 30% at T1 (1,810), 30% at T2 (1,890), trail remaining with SL at 1,750 after T1 achieved
Key Levels:
Critical Resistance: 1,745-1,750 (breakout zone)
Support: 1,680, 1,620, 1,550
Timeframe: Weekly chart suggests this is a medium-term positional opportunity
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.