. Double Bottom Formation (Weekly TF):
1. This classic reversal pattern indicates a strong demand zone.
It occurred in the Weekly Fair Value Gap (FVG) Discount Zone, which adds strength to the support.
Volume spike confirms institutional interest.
📉 2. MSS (Market Structure Shift):
MSS shown marks a break of bearish structure, indicating potential trend reversal.
Higher lows forming → early sign of bullish intent.
📈 3. Targets:
Target-1: ₹904.80
Previous strong resistance; partial booking can be considered here.
Target-2: ₹1,047.85 – ₹1,100
All-time high zone; major resistance and potential exit zone for long trades.
At current level (₹712.95), early entry is missed, but if it consolidates above MSS, re-entry or add-on is possible on retest.
Watch for any pullback to ₹660–₹680 zone (near MSS and minor FVG) as a potential entry.
📊 Volume Analysis:
Huge Volume spike near bottom signals accumulation.
Price rising with volume = bullish confirmation.
🎯 Strategy Summary (For a Swing Position):
Aspect Observation
Trend Transitioning from Bearish → Bullish
Pattern Double Bottom (Reversal)
Entry Zone ₹660–₹680 (ideal pullback)
SL (Stop Loss) Below ₹580 (bottom support)
Target 1 ₹905 (Partial Booking)
Target 2 ₹1,050–₹1,100 (Final Booking)
Risk-Reward Good (if entering on pullback)
⚠️ Risk Note:
Ensure proper stop loss and position sizing, especially since the stock has already moved up ~13.92% this week.
Wait for minor consolidation or pullback for safer entry if missed the base.
1. This classic reversal pattern indicates a strong demand zone.
It occurred in the Weekly Fair Value Gap (FVG) Discount Zone, which adds strength to the support.
Volume spike confirms institutional interest.
📉 2. MSS (Market Structure Shift):
MSS shown marks a break of bearish structure, indicating potential trend reversal.
Higher lows forming → early sign of bullish intent.
📈 3. Targets:
Target-1: ₹904.80
Previous strong resistance; partial booking can be considered here.
Target-2: ₹1,047.85 – ₹1,100
All-time high zone; major resistance and potential exit zone for long trades.
At current level (₹712.95), early entry is missed, but if it consolidates above MSS, re-entry or add-on is possible on retest.
Watch for any pullback to ₹660–₹680 zone (near MSS and minor FVG) as a potential entry.
📊 Volume Analysis:
Huge Volume spike near bottom signals accumulation.
Price rising with volume = bullish confirmation.
🎯 Strategy Summary (For a Swing Position):
Aspect Observation
Trend Transitioning from Bearish → Bullish
Pattern Double Bottom (Reversal)
Entry Zone ₹660–₹680 (ideal pullback)
SL (Stop Loss) Below ₹580 (bottom support)
Target 1 ₹905 (Partial Booking)
Target 2 ₹1,050–₹1,100 (Final Booking)
Risk-Reward Good (if entering on pullback)
⚠️ Risk Note:
Ensure proper stop loss and position sizing, especially since the stock has already moved up ~13.92% this week.
Wait for minor consolidation or pullback for safer entry if missed the base.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.