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.
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.