Sharing a fresh daily chart setup for Sonata Software Limited (NSE:SONATSOFTW). The price has recently bounced from a strong support zone in the ₹327–₹344 range, showing early signs of buyer strength after a heavy correction. Volume at this level has increased, indicating accumulation activity.
Trade Plan
Entry Zone: ₹344–₹349 (demand area respected by recent candles)
Stop Loss: ₹327 (below the accumulation zone)
Primary Targets: ₹374 (short-term resistance), ₹421 (medium-term resistance)
Chart Observations
Price pulled back to a marked demand zone; bullish reversal candlestick formation noted.
Favorable risk/reward setup with well-defined invalidation and distinct upside levels.
Monitor for confirmation above ₹374; a close above this resistance could trigger further bullish momentum.
Notes
This setup uses technical support/resistance, volume spikes, and price action for disciplined trading.
Strong risk management is recommended; trailing stops and profit-taking are important as price approaches resistance.
Disclaimer
This is an educational idea, not investment advice. Please research independently before taking positions.
Trade Plan
Entry Zone: ₹344–₹349 (demand area respected by recent candles)
Stop Loss: ₹327 (below the accumulation zone)
Primary Targets: ₹374 (short-term resistance), ₹421 (medium-term resistance)
Chart Observations
Price pulled back to a marked demand zone; bullish reversal candlestick formation noted.
Favorable risk/reward setup with well-defined invalidation and distinct upside levels.
Monitor for confirmation above ₹374; a close above this resistance could trigger further bullish momentum.
Notes
This setup uses technical support/resistance, volume spikes, and price action for disciplined trading.
Strong risk management is recommended; trailing stops and profit-taking are important as price approaches resistance.
Disclaimer
This is an educational idea, not investment advice. Please research independently before taking positions.
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.