TransRail has recently formed a textbook cup and handle pattern, signaling a potential bullish breakout. The stock showed strong momentum after retesting the breakout zone and is currently consolidating near key resistance.
Key Points:
• Cup Formation: Evident over the past months, indicating accumulation.
• Breakout Levels: First breakout candle confirmed; price now approaching resistance at ₹830.25.
• Buy Trigger: Entry above ₹830.25 for bullish confirmation.
• Fibonacci Targets: Next potential targets at ₹888.35 (1.13 Fib), ₹945.25 (1.41 Fib), and ₹986.30 (1.618 Fib).
• Stop Loss: Maintain SL at ₹777.15 to manage risk.
• Volume: Strong earnings volume supports the setup.
Watch for sustained volume and a decisive move above resistance for confirmation. Add TransRail to your watchlist for a potential swing trade opportunity!
Key Points:
• Cup Formation: Evident over the past months, indicating accumulation.
• Breakout Levels: First breakout candle confirmed; price now approaching resistance at ₹830.25.
• Buy Trigger: Entry above ₹830.25 for bullish confirmation.
• Fibonacci Targets: Next potential targets at ₹888.35 (1.13 Fib), ₹945.25 (1.41 Fib), and ₹986.30 (1.618 Fib).
• Stop Loss: Maintain SL at ₹777.15 to manage risk.
• Volume: Strong earnings volume supports the setup.
Watch for sustained volume and a decisive move above resistance for confirmation. Add TransRail to your watchlist for a potential swing trade 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.