Technical Analysis Summary:
✅ Breakout Structure: Price is attempting a breakout from a consolidation zone near ₹503 after a strong bullish rally.
📊 Fibonacci Confluence:
Fibonacci retracement plotted from swing high to swing low.
Key retracement levels respected — especially the 0.618 zone at ₹480.15, which aligns with the hourly support area.
🟩 Buying Area Identified:
Green zone (₹470–₹485) marked as strong support — previously tested multiple times.
Price bounced from this level with volume confirmation.
📈 RSI Momentum: RSI is trending above 60, indicating strong momentum buildup.
Trade Plan (For Educational Use):
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Entry: On sustained close above ₹503 or retest near ₹485 zone with volume support.
Stop-Loss: Below ₹471 or swing low.
Targets:
T1: ₹508 (Fibo 1.0)
T2: ₹553 (Fibo 1.618)
Trail beyond with SL moved to cost.
⚠️ Disclaimer:
This chart idea is for educational purposes only and should not be considered investment advice. Please do your own research and consult a financial advisor before making any trading decisions. Trade at your own risk.
✅ Breakout Structure: Price is attempting a breakout from a consolidation zone near ₹503 after a strong bullish rally.
📊 Fibonacci Confluence:
Fibonacci retracement plotted from swing high to swing low.
Key retracement levels respected — especially the 0.618 zone at ₹480.15, which aligns with the hourly support area.
🟩 Buying Area Identified:
Green zone (₹470–₹485) marked as strong support — previously tested multiple times.
Price bounced from this level with volume confirmation.
📈 RSI Momentum: RSI is trending above 60, indicating strong momentum buildup.
Trade Plan (For Educational Use):
=================================
Entry: On sustained close above ₹503 or retest near ₹485 zone with volume support.
Stop-Loss: Below ₹471 or swing low.
Targets:
T1: ₹508 (Fibo 1.0)
T2: ₹553 (Fibo 1.618)
Trail beyond with SL moved to cost.
⚠️ Disclaimer:
This chart idea is for educational purposes only and should not be considered investment advice. Please do your own research and consult a financial advisor before making any trading decisions. Trade at your own risk.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.