CreditAccess Grameen: Rectangle Breakout Setup

BUY Setup 🏦
Entry: ₹1,472-1,478 (Current Level)
Target 1: ₹1,515-1,520
Target 2: ₹1,530-1,540
Target 3: ₹1,550-1,560 (Extended)
Stop Loss: ₹1,440
Technical Rationale:

Consolidating within tight range (1,440-1,495) on 30-min chart
Trading near support at 1,470 level - good risk-reward entry
Price holding above key support at 1,440 zone (black line)
RSI at 62.37 - neutral to bullish, room for upside
Volume showing accumulation pattern (89.09K)
Microfinance/NBFC sector showing resilience
Trading well above EMA (1,449.94) on larger timeframe
Rectangle consolidation pattern - breakout imminent
Multiple resistance levels clearly marked: 1,515, 1,530, 1,550
Support zone well-established at 1,440-1,450

Risk-Reward: Good 1:2.5+ ratio
Pattern: Rectangle consolidation on 30-min chart - typically precedes directional move
Strategy: Intraday to short-term swing - Book 40% at T1 (1,517), 30% at T2 (1,535), trail remaining with SL at 1,480 after T1
Key Levels:

Resistance Zone: 1,480-1,495 (upper rectangle)
Strong Resistance: 1,515, 1,530, 1,550
Critical Support: 1,440, 1,420

Timeframe: 30-minute chart for short-term traders/scalpers
Note: Currently showing minor weakness (-0.42%) but holding support well. Wait for break above 1,480 for confirmation or enter at current support levels with tight SL.


Disclaimer: For educational purposes only. Not SEBI registered.