WCIL - H&S Pattern | Breakout Above Resistance | Daily Chart

27 giu

📊 WCIL – Breakout Above Resistance | RSI Bullish | Strong Volume | Fibonacci Levels | Daily Chart
📅 Chart Date: June 27, 2025
📈 CMP: ₹114.43 (+3.42%)
📍 Ticker: NSE:WCIL

🔍 Technical Analysis Summary
🔺 Breakout From Trendline & Resistance
WCIL has broken out above horizontal resistance at ₹113.50 and long-term descending trendline, indicating strong bullish momentum
Golden neckline breakout of a potential inverse head & shoulder / V-recovery formation

📊 Volume Spike
Massive increase in volume (7.09M) confirms buying interest and validates the breakout

📈 RSI Indicator (14, Close)
RSI at 70.85, trending upward and entering bullish territory
Multiple Bullish RSI crossover signals provide confluence for the uptrend

🌀 Fibonacci Retracement Levels
38.2% – ₹107.94
50.0% – ₹121.13 (next key level)
61.8% – ₹134.31
100% – ₹177.00 (full retracement potential)

📍 Key Price Levels
✅ Breakout Zone: ₹113.50
🔼 Immediate Resistance: ₹121.13
🎯 Target Levels: ₹121 → ₹134 → ₹153+
🛡️ Support Levels: ₹107.9 → ₹100 → ₹91

💡 Trade Idea
Entry: Above ₹114 on confirmation with volume
SL: Below ₹107.50 (close below previous resistance)
Targets: ₹121 → ₹134 → ₹153

Risk-Reward: High conviction due to structure and volume

⚠️ Disclaimer
This chart analysis is for educational purposes only. Always DYOR (Do Your Own Research) and consult a financial advisor before making investment decisions.

5 lug

Trade chiuso: obiettivo raggiunto

The first resistance level has been touched. If the trend is to continue, it's important to follow a trailing stop-loss strategy and patiently wait for the price to approach the second resistance level.