UNOMINDA – Daily Timeframe Breakout Idea (Resistance Zone Break)

7 thg 7

UNO MINDA LTD. has shown a breakout above a key horizontal resistance level on the daily chart, accompanied by a nearly 1.5 times volume surge near the breakout, as seen earlier, supported by strong momentum.

🔍 Breakout Context:
- Price might break above the ~₹1110 horizontal resistance, which had held for over 6 months.
- Breakout supported by more than average volume and just above average range 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: ₹1093
- Entry: Near ₹1112
- Target: ₹1188 (~7% upside from CMP)
- Stop-Loss: ₹1082
- Risk-Reward Ratio: ~1 : 2.0

📌 Note:
- Look for a confirmation candle to enter the trade.
- 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.

17 thg 7

Giao dịch đang hoạt động

Entry was triggered yesterday (15th July), and a significant movement can be observed.

23 thg 7

Đóng lệnh: dừng lỗ

Stop Loss hit, although the price is recovering!
One Lesson - Volume spike is essential.