SWANENERGY - Daily Timeframe Breakout (Resistance Zone Break)

SWAN ENERGY has shown a breakout above a key horizontal resistance level on the daily chart, accompanied by a nearly 2.5 times volume surge near the breakout zone, as seen earlier, supported by strong momentum.

🔍 Breakout Context:
- Price might break above the ~₹484 horizontal resistance, which had held for over 6 months.
The breakout zone has been supported by 2.5X volume and a range 3X of average near the resistance zone.
- The price is also trading above both the 50- and 100-day SMAs, indicating strong trend continuation.
- This aligns with a bullish continuation setup.

📉 Trade Plan:
- CMP: ₹485.2
- Entry: Near ₹484
- Target: ₹566 (~16.5% upside from CMP)
- Stop-Loss: ₹450
- Risk-Reward Ratio: ~ 1 : 2.3

📌 Note:
- Wait for the closing of this candle, enter the trade near 3:20 PM, or get confirmation on 75min/1Hr TF.
- Avoid chasing the extended move unless confident in intraday momentum.

⚠️ Disclaimer: This post is for educational purposes only and not financial advice. Always do your research or consult a financial advisor before trading.