4190 Technical Analysis: Breakout with Gap-Fill Potential4190 (Jarir Marketing Co.)
Price has broken out of a consolidation range that extended from December 2024. It is trading above the 89 EMA — a level it has historically respected, reinforcing the bullish structure. RSI is also in sync with the move, adding further confirmation.
If price reaches TP1, there is a strong likelihood it will attempt to fill the previous gap down, aligning with TP2. The stop loss is set below the 89 EMA at 12.70 on a closing basis, while traders may consider scaling the stop upward as the trend progresses.
Recommended Levels:
Buy: 13.14 (CMP)
Stop Loss: Closing below 12.70
Take Profit 1: 13.60
Take Profit 2: 14.50
Take Profit 3: Ride the trend with a trailing stop
Potential upside remains as long as price sustains above the breakout zone and the 89 EMA. Happy trading!
