Key Observations:
Symmetrical Triangle Pattern:
The price was consolidating within a symmetrical triangle, marked by:
Descending trendline (upper resistance)
Ascending trendline (lower support)
Breakout:
On May 15, 2025, the stock broke out above the descending trendline with a strong bullish candle.
The breakout is accompanied by a significant increase in volume (5.3M), which validates the breakout strength.
Price Movement:
The stock closed at ₹77.04, up 9.56% for the day.
This strong move above resistance suggests the beginning of a potential uptrend.
Technical Implications:
Bullish Signal: The breakout from a consolidation pattern with high volume is a classic bullish indicator.
Resistance Turned Support: The breakout level around ₹68-₹70 could now act as a support zone.
Upside Targets (based on pattern height):
Approximate height of triangle: ₹88 (peak) - ₹58 (base) = ₹30
Projected target = Breakout level (₹70) + ₹30 = ₹100 (short- to medium-term target)
Conclusion:
This is a bullish breakout setup. Traders might consider this a buy signal with potential targets around ₹90–₹100, and a stop-loss near ₹68 to manage risk.
Symmetrical Triangle Pattern:
The price was consolidating within a symmetrical triangle, marked by:
Descending trendline (upper resistance)
Ascending trendline (lower support)
Breakout:
On May 15, 2025, the stock broke out above the descending trendline with a strong bullish candle.
The breakout is accompanied by a significant increase in volume (5.3M), which validates the breakout strength.
Price Movement:
The stock closed at ₹77.04, up 9.56% for the day.
This strong move above resistance suggests the beginning of a potential uptrend.
Technical Implications:
Bullish Signal: The breakout from a consolidation pattern with high volume is a classic bullish indicator.
Resistance Turned Support: The breakout level around ₹68-₹70 could now act as a support zone.
Upside Targets (based on pattern height):
Approximate height of triangle: ₹88 (peak) - ₹58 (base) = ₹30
Projected target = Breakout level (₹70) + ₹30 = ₹100 (short- to medium-term target)
Conclusion:
This is a bullish breakout setup. Traders might consider this a buy signal with potential targets around ₹90–₹100, and a stop-loss near ₹68 to manage risk.
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.