IDEAFORGE recently showed a sharp recovery after a strong downtrend, rebounding from ₹552 to ₹590+ in one session on heavy volume. This V-shaped recovery signals potential short covering or accumulation.
🔍 Key Observations:
Consolidation was seen around ₹588–₹590 before the breakdown.
Sharp drop to ₹552 followed by a high-volume bounce.
Price is now stabilizing around previous support zones.
🔮 Forecast (Next 15 Days):
✅ Bullish Scenario:
If the price holds above ₹586–₹588 and breaks above ₹595–₹600 with volume, we may see:
🎯 Target 1: ₹610
🎯 Target 2: ₹625
🎯 Target 3: ₹640+
❌ Bearish Scenario:
Break below ₹584 could invalidate the bounce:
🔻 Support 1: ₹570
🔻 Support 2: ₹552
🔻 Support 3: ₹540
📌 Trading Plan:
Watch for a breakout above ₹595 with volume confirmation. RSI crossing above 60 on 15-min/1H charts can further confirm bullish momentum.
💬 What do you think? Is this a reversal in the making or just a temporary bounce? Share your views below!
🔍 Key Observations:
Consolidation was seen around ₹588–₹590 before the breakdown.
Sharp drop to ₹552 followed by a high-volume bounce.
Price is now stabilizing around previous support zones.
🔮 Forecast (Next 15 Days):
✅ Bullish Scenario:
If the price holds above ₹586–₹588 and breaks above ₹595–₹600 with volume, we may see:
🎯 Target 1: ₹610
🎯 Target 2: ₹625
🎯 Target 3: ₹640+
❌ Bearish Scenario:
Break below ₹584 could invalidate the bounce:
🔻 Support 1: ₹570
🔻 Support 2: ₹552
🔻 Support 3: ₹540
📌 Trading Plan:
Watch for a breakout above ₹595 with volume confirmation. RSI crossing above 60 on 15-min/1H charts can further confirm bullish momentum.
💬 What do you think? Is this a reversal in the making or just a temporary bounce? Share your views below!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Exención de responsabilidad
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.