Setup Type: Reversal + Breakout | Conviction: Medium (Confirmation Needed)
Chart Framework: Price Action + Chart Patterns
WELSPUN is printing a strong bullish reversal structure, supported by both horizontal and diagonal resistance levels:
🟡 Double Bottom at Equal Lows – Classic reversal base forming after a downtrend.
📏 Equal Lows Liquidity Grab – Smart money may have hunted stops before pivoting.
🟢 Massive Volume Spike – Indicates strong interest building up.
📐 Bearish Trendline Resistance + Neckline acting as key breakout zones.
🧠 Trade Plan:
🕒 Wait for breakout above ₹133–135 zone (neckline + trendline overlap).
📍 Entry Confirmation = Daily close above ₹135 with strong volume.
🎯 Target = ₹180+ based on measured move from the pattern.
💡 High-Probability Trigger: Once the neckline breaks, momentum buyers will likely step in. Confluence of trendline + structure gives this trade extra juice.
Chart Framework: Price Action + Chart Patterns
WELSPUN is printing a strong bullish reversal structure, supported by both horizontal and diagonal resistance levels:
🟡 Double Bottom at Equal Lows – Classic reversal base forming after a downtrend.
📏 Equal Lows Liquidity Grab – Smart money may have hunted stops before pivoting.
🟢 Massive Volume Spike – Indicates strong interest building up.
📐 Bearish Trendline Resistance + Neckline acting as key breakout zones.
🧠 Trade Plan:
🕒 Wait for breakout above ₹133–135 zone (neckline + trendline overlap).
📍 Entry Confirmation = Daily close above ₹135 with strong volume.
🎯 Target = ₹180+ based on measured move from the pattern.
💡 High-Probability Trigger: Once the neckline breaks, momentum buyers will likely step in. Confluence of trendline + structure gives this trade extra juice.
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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.