DEVYANI – Breakout Retest Completed | Short-Term Rally Brewing

DEVYANI – Breakout Retest Completed | Short-Term Rally Brewing
🟢 CMP: ₹170.15
📆 Date: 17 June 2025
📊 Timeframe: 2–4 Days Swing Trade

🔍 Technical Analysis
✅ DEVYANI broke above the key level of ₹169.20 with conviction
✅ Post breakout, the stock consolidated in a tight range – a classic bullish continuation setup
✅ Price structure is forming higher lows, suggesting accumulation
✅ Strong wick rejection seen near ₹165 on June 17, confirming buyers stepping in at dips
✅ Volume noticeably rising in the last hour of trade, with price heading higher
✅ Final candle of the session closed just below the intraday high, hinting potential upside continuation

🎯 Trade Plan
🔹 Parameter 🔹 Value
Buy Zone ₹169 – ₹171
Stop Loss ₹166.40 (below swing low)
Target 1 ₹174
Target 2 ₹177.50
Target 3 ₹181
Risk–Reward ~1:2.4

🔥 Conviction Score: 80%
💡 Clean structure + minor breakout + volume rise = Short-term bullish bias

⚠️ What to Watch For
Volumes should continue above 45K per 5-min candle

Immediate resistance: ₹172

Closing above ₹171.20 can fast-track the momentum move

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