SOL/USDT 4h chart 1. Trend:
• The price was bounced off from the yellow growth line, but it just pierced it down. This is the first signal of buyers' weakness.
2. Support (red lines):
• $ 200 - psychological level, just tested.
• 193.6 $ - stronger support if the current one cannot withstand.
• 187.4 $ - even lower, bull defense limit.
3. Resistance (green lines):
• $ 206.9 - the first greater resistance to come back up.
• 214.7 $ - stronger, where there were reflections before.
• $ 220.5 - main resistance, heavy to punctures.
4. Stoch RSI (downstairs):
• It is low → the market looks sold out, which means that there may be a chance to reflect, but there is no reversal signal yet.
⸻
👉:
Sol has lost his growth line and is now fighting to stay $ 200. If it falls lower, subsequent stops are $ 193 and $ 187. Only breaking over $ 207–214 will show the strength of buyers.
Shortterm
BTCUSD 4h short-term📊 Trend and structure
• You can see the price output from the downward channel (orange trend lines). This is a signal of a potential change of trend.
• The price currently oscillates around USD 112,200, i.e. above several key supports (109,000 - 111,000).
• The nearest strong resistance is around 113,450 - 114,955 USD (marked with green lines and average SMA).
⸻
📈 indicators
• MacD: MacD (blue) line pierces above the signal (orange) and the histogram grows in the plus → it is a growth signal.
• RSI: ~ 60, i.e. it grows, but is not yet entering the purchase zone (> 70). There is still room for increases.
• SMA:
• Price has pierced short -term medium (red and green lines, ~ 109–112k), which works as support.
• The next key test is SMA around $ 114,955 - a puncture could open the road to 116–118k.
⸻
🔑 key levels
• Support:
• 111.014
• 109.023
• 107.580
• resistance:
• 113,450
• 114,955
• 116,000+
⸻
📝 Summary
• short -term (4h) - signals are upward: breaking from the downward channel, positive MacD, RSI is growing healthy.
• Bull scenario: Breaking above 114,955 opens the way to 116–118k.
• Bear scenario: unsuccessful puncture 113,450/115K → possible retest support at 111K and 109k.
BNBUSDT 4H Chart 1. Price structure
• Current price: ~ 858 USDT
• The price moves in the clinic in a lowering (yellow lines). Upper inheritance trend (~ 881) + lower growth line (~ 848).
• We see consolidation - the market is "squeezed" between supports and resistance.
2. Horizers of support and resistance
• Support:
• 855 (local, this is where the price stopped)
• 848 (Important - lower wedge + demand level)
• 840 and 829 (key with a larger decline).
• resistance:
• 861 (first test, short -term)
• 869 (stronger resistance, earlier reflections)
• 881 (upper wedge line, strategic resistance).
3. Oscillators
• RSI (Chop) - around 50, i.e. neutral → no clear advantage of bulls/bears.
• STOCHASTIC RSI - is located at the bottom of the zone (approx. 20-25), which suggests the possibility of reflecting up (bull signal, but only after the candle confirmation).
4. Scenarios
Bullish (reflection up):
• If the price persists over 855–848 → possible reflection to 861 and 869.
• Breaking above 869 → opens the road to 881 (Test of the upper line of Klina).
• Only closure of the 4h candle above 881 → a signal of a kick from the wedge and a stronger upward movement.
Bearish (continuation of the inheritance):
• If the price drops below 848 and closes the candle at this level → strong inheritance signal, tarpapers: 840 and 829.
• 829 is key support - its bursting down can deepen the declines.
⸻
📊 Summary
BNB is now in the Departing Clinic, in the uncertainty zone:
• Maintenance 848–855 = chance of reflection.
• Punction down 848 = signal to a stronger decrease.
• Only breaking above 881 = signal of stronger growth movement.
BTC/USD 1H Short-term1. Main trend (short -term)
• The price is under the downward trend line (black line).
• Until this trend is broken up (approx.> 113,000–113,500 USD), the advantage remains on the Bear (inheritance) side.
2. Support and resistance
• The next support: 112.017 USD (if it falls → the next target is USD 111,232 and then 110.015 USD).
• The nearest resistance: USD 112,959, then USD 113,528 and a stronger level of USD 114.667.
3. Candle formation
• The last candle tests support at USD 112.017 and a defense attempt (lower wick) appears. This may suggest a short reflection, but still as part of the inheritance trend.
4. Oscillators (Stochastic RSI at the bottom of the chart)
• The indicator is in the sales zone (<20) and begins to turn up → a signal of a potential short -term reflection (SCALP LONG).
• However, if the reflection does not overcome the downward trend line, it will be just a correction rather than a change in the trend.
⸻
📊 short -term scenarios
• Bullish (reflection): If BTC maintains USD 112,000 and stochastic, he pulls up, possible traffic up to $ 112,950-13,500 (Trendline test and resistance).
• Bearish (continuation of declines): a breakdown of USD 112,000 opens the road to USD 111,200 and even USD 110,000.
⸻
📝 Application
• Trend for 1H: inheritance.
• Short -term signal: possible reflection from support (112K → 113.5k), but until the price boosts the downward trend line, the scenario of further declines dominates.
• Key level for observation: USD 112,000 (maintenance = reflection, breaking = further declines).
Will a Drop Below 4.12 Push BTC to New Highs ?👋 Hello, and welcome to Satoshi Frame .
📊 USDT Dominance , after a sharp move toward 6% , got rejected strongly from that level with a powerful candle .
🔻 Following that , it lost its key support and entered a deep corrective phase .
🚀 During this period, Bitcoin and altcoins experienced a strong upward trend , and 🟠 Bitcoin even recorded a new all-time high .
📉 The key support level for USDT Dominance is at 4.12% .
⚠️ If this level is broken, Bitcoin could potentially reach a new all-time high again .
📐 I’ve drawn my Fibonacci from the point where the support was lost , the structure broke , and the previous uptrend turned into a corrective or bearish trend .
🔽 The breakdown of that key support pushed USDT Dominance down to 4.12% , where we saw strong buying pressure in Bitcoin and altcoins, leading to a sharp upward movement.
🔄 Price then retraced to the 0.382 Fibonacci level (4.61%) , acting as a corrective pullback within the ongoing downtrend.
❌ However , this area triggered a rejection , and now we are witnessing another decline in USDT Dominance.
💡 Disclaimer : This analysis is for educational purposes only and should not be considered financial advice . Always do your own research and manage your risk before making any trading decisions .
BAJAJ HOUSING FINANCE LTD GOOD TIME TO PICK IT Bajaj Housing Finance Ltd. (BHFL) is a prominent non-banking financial company (NBFC) in India, specializing in housing-related finance. It's a subsidiary of Bajaj Finance Ltd., and has been classified as an Upper-Layer NBFC by the RBI under its Scale-Based Regulations.
📊 Latest Financial Highlights (Q1 FY26 Preview)
- Assets Under Management (AUM): 1.2 lakh crore, up 24% YoY and 5% QoQ
- Loan Assets: 1.05 lakh crore, up 24.2% YoY
- Disbursements: 14,640 crore, up 22% YoY
- Net Profit (PAT): Expected to rise 19–21% YoY to 574–584 crore
- Net Interest Income (NII): Estimated to grow 24–28% YoY to 827–851 crore
- Net Interest Margin (NIM): Projected at ~3.2%, slightly compressed due to rate cuts
The company is well-positioned to benefit from the rising demand for housing loans, as more people seek to buy homes. With a focus on technology and customer service, BHFL is likely to enhance its operational efficiency, attracting more clients and growing its market share. As a result, the stock price of BHFL could rise, with steady growth by its expanding loan portfolio and strong brand recognition. In 2026, its share price target would be 253, as per our analysis.
SHORT TERM VIEW
entry - 119.50-123
stop loss - 117.60
target - 135-140
SOLUSDT 1H Short-Term🔍 Technical Structure:
Short-Term Trend:
SOL is currently in an uptrend, with local higher lows. This is evident from the orange uptrend line, which has been tested multiple times.
Local Resistance:
205.14 USDT – yellow line – a resistance level that the price has touched several times but failed to break (this could be a double-top formation).
Local Support:
198.48 USDT – the price is currently testing this level as support.
194.36 USDT – lower, more crucial support (stronger upon a trend breakout).
187.74 USDT – important support that would be tested in the event of a larger breakout.
📉 Oscillator – Stoch RSI:
The Stoch RSI is currently in oversold territory (below 20), suggesting the possibility of a local rebound.
However, there has been no upward crossover yet, so there is no strong buy signal.
🔊 Volume:
We are observing a decrease in volume during the current correction, suggesting that the declines are relatively weak – there is no strong supply impulse.
🧠 Short-term scenarios:
✅ Bullish scenario:
Price is rebounding from the trend line (orange) and the 198.48 USDT level.
A break of the 205.14 USDT resistance could open the way to:
209.37 USDT
216.02 USDT (next target)
❌ Bearish scenario:
A break of the trend line and the 198.48 USDT level with the 1-hour candle closing below.
Possible decline to:
194.36 USDT (first support)
and further to 187.74 USDT if selling pressure increases.
etc sell shortterm"🌟 Welcome to Golden Candle! 🌟
We're a team of 📈 passionate traders 📉 who love sharing our 🔍 technical analysis insights 🔎 with the TradingView community. 🌎
Our goal is to provide 💡 valuable perspectives 💡 on market trends and patterns, but 🚫 please note that our analyses are not intended as buy or sell recommendations. 🚫
Instead, they reflect our own 💭 personal attitudes and thoughts. 💭
Follow along and 📚 learn 📚 from our analyses! 📊💡"
BTC/USD Short-Term🔷 Pattern: Symmetrical Triangle (Consolidation)
The price is inside the triangle formation (orange lines) and is approaching its completion.
An impending breakout (up or down) is highly probable within the next few hours.
📉 Support Levels (red lines):
117.210 – local horizontal support.
116.324 – 115.050 – strong demand zone (potential target in the event of a downward breakout).
📈 Resistance Levels (green lines):
118.900 – 119.700 – local resistance zone.
121.011 – 121.813 – higher target in the event of an upward breakout from the triangle.
📊 Technical indicators:
✅ RSI (Relative Strength Index):
Currently: 69.05 – close to overbought levels, but not yet at an extreme.
Potential for a short-term pullback unless a strong breakout occurs.
✅ MACD:
Signal lines are tightly intertwined, histogram flat → no dominant momentum.
Waiting for a breakout signal (bullish or bearish crossover).
✅ SMA:
Price currently below the 50 and 200 SMA for 1 hour → slight downward momentum.
The 50-SMA (red) is turning down, which may signal a continuation of the sideways or downward trend.
📌 Short-term conclusions (1–6 hours):
Scenario 1: Bullish breakout:
Confirmation: H1 candle close above 118,900.
Targets: 119,700 and potentially 121,000–121,800.
Scenario 2: Bearish breakout:
Confirmation: H1 candle close below 117,200.
Targets: 116,300, then 115,000–115,300.
📍 Watch for:
Breakout of the triangle boundaries with volume.
RSI behavior relative to the 70 level.
MACD crossover and histogram.
BTC/USD 1H ShortTerm🔍 Trend:
The short-term uptrend remains in effect, supported by the orange trendline.
The price has tested dynamic support but has not yet broken it.
🟥 Supports (Important Levels):
🔻 1. 119.550
Key support.
The price is currently testing it. Holding = potential upside rebound.
Breaking = greater downside risk.
🔻 2. 117.260–118.040 USD
Clear demand zone (reinforced by prior consolidation).
If the price breaks below current support, this is the next logical stopping point.
🔻 3. 115.237–115.500 USD
Strong weekly support – very important in the event of a stronger correction.
Historically, it has responded many times.
🟩 Resistance:
🔼 1. USD 121.673
The nearest local resistance – this could pose a problem for further growth.
🔼 2. USD 123.961
The last local high. Breaking it confirms the continuation of the uptrend.
🔼 3. USD 125.785
The next resistance – a potential target after a breakout to the upside.
📈 Technical Indicators:
RSI (classic):
Still below 50, but starting to reverse slightly upward – neutral with a slight potential for a rebound.
Stochastic RSI:
Gives a long signal – the lines have crossed in the oversold zone and are pointing upward.
📊 Scenarios:
🟢 Bullish:
Maintaining the current support zone (119.5–120k).
Breakout above 121.673 → target: 123.961.
Breakout of 123.961 = trend confirmation and target: 125.8k+
🔴 Bearish:
Break of the trend line and support at 119.550 → possible quick decline to 117.2k–118k.
If this doesn't hold, target: 115.2k
✅ Summary:
Decisive moment – tested trend line + support = rebound or breakout point.
The Stochastic RSI indicates a potential upside breakout, but the RSI needs confirmation.
Careful monitoring of volume and reaction to 120k in the coming hours.
sol sell midterm"🌟 Welcome to Golden Candle! 🌟
We're a team of 📈 passionate traders 📉 who love sharing our 🔍 technical analysis insights 🔎 with the TradingView community. 🌎
Our goal is to provide 💡 valuable perspectives 💡 on market trends and patterns, but 🚫 please note that our analyses are not intended as buy or sell recommendations. 🚫
Instead, they reflect our own 💭 personal attitudes and thoughts. 💭
Follow along and 📚 learn 📚 from our analyses! 📊💡"
BTC/USD 1H chart short-term🔻 Trend:
• Currently visible inheritance channel - confirmed by the yellow inheritance trend (decreasing peaks).
• The price tests resistance in the area 117.564 - possible to break out, but requires confirmation of the volume.
⸻
📊 levels of support and resistance:
• resistance:
• 117,564 (here we are now - resistance test)
• 117,939
• 118,206 (key level - potential breaking from the channel)
• Support:
• 117,205 - a recent hole, valid short -term
• 116,905
• 116,680 - deeper support, possible target with further decline
⸻
📉 Macd:
• The histogram begins to decrease, but the MacD line and the signal line still below zero → still weakness.
• Possibility to build a base for reversing the trend, but there is no clear signal intersection.
⸻
📉 RSI (Relative Strength Index):
• RSI below 50, but it starts to reflect slightly.
• MA RSI is still falling → no strong growth dynamics.
⸻
🔍 Applications:
• The downward trend still dominates, but the price is trying to pierce local resistance (117.564).
• If it breaks above 117,939–118,206 and persists, a possible change in the direction at a short interval.
• If he rejects the resistance - a quick descend to 117.205 or lower (116,900-116,680).
⸻
⚠️ Signals for observation:
• Closing the candle 1h above 118.206 - Bullly Breakout.
• Rejection of level 117.564 and descent below 117,200 - confirmation of further decline.
• MacD and RSI - 50 - potential change of direction.
MKR/USDT 4H Chart🔍 1. Technical Pattern:
The chart shows a descending wedge (orange lines) that has broken out upward.
The breakout occurred on increasing volume (a signal of bullish strength).
The price is currently trading above a resistance line, which is now acting as support (~1980 USDT).
📊 2. Support and Resistance Levels:
Support (red lines):
1903 USDT – local consolidation support.
1801 USDT – strong support at the previous bottom.
1727 and 1632 USDT – fallback zones in case of strong declines.
Resistance (green and blue lines):
2120 USDT – first target after the breakout.
2168 USDT – another strong resistance from the previous consolidation.
2312 USDT – high resistance, potential target if the uptrend continues.
📈 3. Indicators:
🔹 Stochastic RSI:
Close to the overbought zone, but not yet giving a sell signal.
A short consolidation or correction may occur in the coming hours.
🔹 MACD:
The MACD line is above the signal and the histogram is still rising – a buy signal.
No signs of weakening momentum.
🔹 RSI:
The RSI is rising, but not yet in the overbought zone (>70).
Shows the strength of the trend, but there is room for further upward movement.
🧠 Summary and scenarios:
✅ Bullish scenario:
If the price remains above 1980 USDT, the next targets are:
2120 USDT
2168 USDT
Potentially 2312 USDT with continued demand
⚠️ Bearish scenario (less likely at this time):
If the price returns below 1980 USDT and does not regain this level:
Possible return to 1903 or lower (1801 USDT).
Review and plan for 4th July 2025 Nifty future and banknifty future analysis and intraday plan.
Swing ideas.
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
Review and plan for 3rd July 2025 Nifty future and banknifty future analysis and intraday plan.
Swing ideas.
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
DOGE/USD 1H Short-term1. General situation on the chart
Trend: The last few dozen candles show a sideways movement with a stronger upward impulse, which was quickly corrected. We are currently seeing declines after the previous upward wave.
Current price: Approx. 0.1847 USDT.
Last structure: After the upward movement (peak around 0.205), the price dropped quite a bit, now consolidating below 0.19.
2. Formations and structures
Formation:
No clear classic formation (e.g. head-and-shoulders, triangle, flags) on the last candles.
However, something like a local peak ("double top") is visible around 0.203–0.205 — the price touched these areas twice and fell off, which suggests that this is a strong resistance.
Support and resistance:
Support: 0.1800–0.1820 — here is the last local low and the area where the price stopped before the previous upward movement.
Next support: 0.1740–0.1750 — the next low from the previous movements.
Resistance: 0.1900–0.1910 — here was the last consolidation, and then a sharp decline.
Strong resistance: 0.2030–0.2050 (recent highs).
3. Indicators
RSI:
RSI value close to 40 and is heading slightly down, but it is not oversold yet. This may suggest that there is potentially room for further decline.
MACD:
Histogram below the 0 line, MACD line below the signal, the bearish signal is still maintained.
4. Signals and potential scenarios
Base scenario (downside):
If the price breaks below 0.1820, the next target is around 0.1750.
Stop loss in this scenario: above the last resistance, e.g. 0.1910.
Alternative scenario (rebound):
If the price does not break 0.1820, and a demand reaction occurs - we may see an attempt to return to 0.1900, or even to the peaks in the area of 0.2000–0.2050.
Stop loss below 0.1800 (in the case of a long play).
5. Potential targets (by price action):
Short:
TP1: 0.1820 (nearest support, you can take some profit)
TP2: 0.1750 (next low, main target)
Long:
TP1: 0.1900 (nearest resistance)
TP2: 0.2000–0.2050 (highs, if the movement is strong)
Summary
Currently, the chart suggests a bearish scenario.
This is confirmed by the candlestick pattern, negative dynamics and indicators (RSI, MACD).
Key level to watch: 0.1820 – if it falls, we will probably go down to 0.1750.
If there is strong demand for 0.1820, a rebound to 0.19+ is possible.
Review and plan for 12th June 2025Nifty future and banknifty future analysis and intraday plan.
Positional/short term stock ideas.
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
Review and plan for 11th June 2025 Nifty future and banknifty future analysis and intraday plan.
Positional ideas.
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
BTC/USD 1H chartHello everyone, let's look at the 1H BTC chart for USD, in this situation we can see how the price moves over a strong growth trend line. However, let's start by defining goals for the near future the price must face:
T1 = 109164 $
T2 = 110207 $
Т3 = 111463 $.
Let's go to Stop-Loss now in case of further declines on the market:
SL1 = 107264 $
SL2 = 106314 $
SL3 = 105578 $
SL4 = 104781 $
Looking at the RSI indicator, we see
Return above the upper limit, which can cause an attempt to relax at the coming hours.
BTC/USD 1H Short-Term🔍1. General Context and Short-Term Trend
Short-Term Trend: The last dozen or so candles have shown strong fluctuations — a typical sideways market (consolidation) after a clear upward impulse and a quick drop. The price is currently trading in the range of around $104,900–$106,500.
Recent Strong Move: Clear upward impulse from around $104,900 to around $106,900, followed by a quick correction.
📌2. Supports and Resistances (H1)
Supports:
$105,000–$105,200 — Bottom of local wicks and several demand tests.
$104,900 — Lowest point of the last few hours, clear buyer reaction.
Resistances:
$106,200–$106,400 — Upper area of several candles, strong price rejection.
106,900–107,000 USD – The peak of the last impulse, a place of clear supply.
✅3. Candlestick formations and price action
Pin bar / long wick: Candles with long lower wicks are visible around 105,000 USD, which suggests that buyers are defending support.
Double top? (Double top): Peaks around 106,900 USD (03.06 and 04.06) – a classic signal of a potential change in direction to the lower.
Possible consolidation: The last few hours have been a series of alternating candles, signaling the lack of a clear advantage of bulls or bears.
🧠4. Technical indicators (MACD and RSI)
MACD (lower panel)
The MACD line crossed the signal line from the bottom to the top, then a quick correction and currently the MACD is close to zero – no clear trend, momentum has slowed down.
MACD Histogram: Declining, close to zero, suggesting potential lack of strong trend and possibility of further consolidation.
RSI (middle panel)
RSI value ~44–48 – not overbought or oversold, neutral market state.
No divergence – RSI generally follows price, no strong divergences are visible.
RSI bounced off 30 (tested oversold zone and returned to neutral range).
🧠5. What could be important?
Volatility Squeeze: Low volatility after a sharp move often heralds another impulse.
Potential Fakeout: If support at $104,900 is broken falsely (e.g. quick wick and return), a move up could occur.
No clear trend on the hourly chart, rather sideways market in the short term.
📊Summary and scenarios
Scenario 1 (bullish):
If the $105,000-$104,900 level holds, we can expect a test of $106,200-$106,400 and perhaps another attempt to approach $107,000.
Scenario 2 (bearish):
If the $104,900 support is broken (with a candle closed below this level), the next target is around $104,500 and below.
What to watch out for?
Timing of macro data releases - may increase volatility.
Sudden breakouts from consolidation - no trend = higher risk of sudden, false moves.
On the Cusp of a Breakout - Short-Term Buy OpportunityEntry Price:
Aggressive Entry: Around CMP (₹165.00) with a strict stop loss, anticipating the breakout.
Conservative Entry: On a confirmed breakout and close above ₹170 on a daily basis.
Target Price 1 (T1): ₹180
Target Price 2 (T2): ₹190
Stop Loss (SL): ₹157 (Closing basis below immediate support)
DISCLAIMER
This report is prepared for informational purposes only and is not intended as a solicitation or an offer to buy or sell any securities. The information contained herein is based on technical analysis and publicly available data, which are believed to be reliable, but no guarantee is made as to their accuracy or completeness. Investing in equities involves risks, and investors should conduct their own due diligence and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
Cautiously Bullish - Approaching Long-Term Resistance.Entry Zone: We recommend initiating a BUY position in TCGSRAAC only upon a decisive and sustained breakout above the major descending trendline (around ₹115 - ₹118). A daily close above this level with good volumes would be a strong confirmation.
Target 1 (T1): ₹125
Target 2 (T2): ₹132
Target 3 (T3): ₹140+ (If momentum sustains significantly post-breakout)
Stop Loss (SL): ₹105 (Strictly on a daily closing basis, for a breakout entry)
Rationale:
Long-Term Resistance Test: The stock is currently testing a significant descending trendline that has been acting as a major resistance for over several months. A successful breakout would signal a substantial shift in the long-term trend.
Support from Accumulation Zone: The stock has recently bounced from a strong demand zone around ₹80 - ₹88 (highlighted in blue), indicating underlying buying interest.
RSI Rising: The Relative Strength Index (RSI) has recently crossed above the 50-mark and is trending upwards, suggesting a buildup of bullish momentum as the price approaches resistance.
Volume Activity: While recent volumes are moderate, a significant surge in volume on the day of the potential breakout would be crucial for confirmation.
Risk-Reward: A breakout offers a good risk-reward setup for short-term traders, targeting the next set of resistance levels.
Key Risk: Failure to break above the major descending trendline could lead to a reversal and a fall back towards the ₹95 - ₹100 levels. A sustained daily close below ₹105 would invalidate the bullish breakout attempt.
Disclaimer: This report is for informational purposes only and does not constitute financial advice. Investors should conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions. Equity investments are subject to market risks.
For Education Purposes Only
Confirmed Breakout and Retest of Channel Resistance.Entry Zone: We recommend accumulating Rolex Rings Ltd. in the zone of ₹1,460 - ₹1,500. This area represents a crucial retest of the broken descending channel's resistance, now acting as strong support.
Target 1 (T1): ₹1,580
Target 2 (T2): ₹1,650
Target 3 (T3): ₹1,750 (Extended target if momentum remains strong)
Stop Loss (SL): ₹1,400 (Strictly on a daily closing basis)
Rationale:
Clear Channel Breakout: The stock has executed a textbook breakout from a well-defined multi-month descending channel. This indicates a significant shift in the underlying trend from bearish to bullish.
Successful Retest: Post-breakout, the price has pulled back to retest the upper boundary of the channel, which is a classic technical confirmation of a valid breakout. The retest appears to be holding, suggesting the former resistance has turned into reliable support.
Volume Confirmation: The initial breakout was supported by decent volumes, and the current consolidation/retest phase is occurring on relatively lower volumes, which is typical before the next leg up.
RSI Bullish Momentum: The Relative Strength Index (RSI) is maintaining its position above the 50-mark and shows bullish bias, supporting the upward price momentum.
Favorable Risk-Reward: The current entry point offers an attractive risk-reward profile for a short-term trade, with the potential upside significantly outweighing the downside risk defined by the stop-loss.
Key Risk: A decisive daily closing below ₹1,400 would invalidate the bullish breakout and retest pattern, suggesting a false breakout or a resumption of the downtrend. Strict adherence to the stop-loss is advised.
Disclaimer : This report is for informational purposes only and does not constitute financial advice. Investors should conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions. Equity investments are subject to market risks.
For Education purposes only