Technical Analysis of Gopal Snacks Ltd....TRADE FOR LATER

4 giorni fa

INVEST BEFORE READ CAREFULLY / TAKE TRADE ON YOUR OWN RISK
RISK~REWARD PROFILE = 5.91:1

GOPAL SANEKS Technical chart Observations:-

~Price Correction:-
The stock corrected around 29%, possibly due to the negative news (fire in a warehouse).
The price appears to be approaching a strong psychological support level at ₹335.

~Pattern Formation:-
A potential Head and Shoulders pattern is visible, signaling a bearish reversal that already played out.
The price dropped significantly post-pattern completion.

~Support Level:-
Key support is around ₹322.80, which is highlighted as the entry point for a possible bounce.
Stop-loss (SL) is marked at ₹304.50 to limit downside risk.

~Target Levels (TP):-
~TP1: ₹362.30
~TP2: ₹386.35
~TP3: ₹430.95

~Volume:-
The trading volume on the recent downtrend is moderate, indicating cautious selling.

~Trend:-
Currently in a downtrend but nearing a critical psychological support zone.
Trading Strategy:
Wait for Confirmation: Enter the trade only if the price shows a clear bounce or reversal signs at the ₹322.80 level.

~Risk-Reward:-
Stop-loss: ₹304.50 (downside ~₹18.30 per share).
Target 1 (TP1): ₹362.30 (upside ~₹39.50).
Risk-reward ratio is favorable if TP1 is achieved.

~Notes:-
This is a counter-trend trade (going against the dominant downtrend), so caution is advised.
Monitor closely for any trend continuation or reversal indicators (e.g., candlestick patterns or volume spikes).
The highlighted targets (TP1-TP3) should be treated as milestones—book partial profits at each.

Final Note:
This chart suggests a well-structured trade setup, but execution depends on confirmation of price action near the support zone. Traders should monitor market sentiment, news updates, and technical signals before entering the trade.

Disclaimer:
I am not a SEBI-registered advisor. These levels are for educational purposes only. Please trade at your own risk. Consult a professional financial advisor for tailored advice. Like and share if you found this helpful!
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