TRACXN : Taking support at key level

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Tracxn Technologies Ltd (TRACXN)

  1. Technical Analysis
    This chart highlights a demand zone and a trendline breakout setup.

    1. Demand Zone: ₹68–₹73

      A strong support zone where buyers previously reversed prices.
    2. Failed CHoCH:

      Sellers failed to push prices lower, forming a potential reversal pattern.
    3. Trendline Resistance: ₹90–₹92

      The current price is testing this level. A breakout confirms a bullish move.
    4. Target Zone: ₹110–₹115

      Projected price target after a successful trendline breakout.
    5. Stop Loss: Below ₹68

      If prices fall below the demand zone, the setup fails.
    Educational Tips:

    Buy Strategy:
    Enter on a breakout above ₹90–₹92.
    Alternatively, buy near ₹68–₹73 with a stop loss below ₹68.
    Stop Loss: Always place below ₹68 to manage risk.
    Target Levels: ₹110–₹115

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