GO LONG FROM DEMAND ZONE : SHRIRAMPROPERTIES
Trade idea for Shriram Properties Ltd :
Observations:
Demand Zone:
A significant green zone indicates the demand zone, where buyers are likely to step in.
Current price levels align with this demand zone.
Trendline Retest:
The price has broken above the downtrend line (red line) and is retesting it, which could act as a strong support level.
Consolidation:
Past price consolidation suggests this is a key area of accumulation.
Potential Uptrend:
Price displacement above the demand zone, coupled with the upward projection arrow, indicates a bullish reversal possibility.
Green target zone at ₹145-₹150.
Trade Setup:
Long Position:
Entry: ₹97–₹100 (current price near demand zone).
Stop Loss: Below ₹89 (below the demand zone and trendline retest point).
Target 1: ₹130 (conservative).
Target 2: ₹145–₹150 (aggressive target based on the chart).
Risk-Reward Ratio:
With a stop loss of ₹89 and a target of ₹145, the risk-reward ratio is approximately 1:4, which is favorable.
Considerations:
Monitor volume: Increasing volume during upward movement will validate the bullish setup.
Market sentiment: Ensure the overall market trend aligns with this analysis.
Observations:
Demand Zone:
A significant green zone indicates the demand zone, where buyers are likely to step in.
Current price levels align with this demand zone.
Trendline Retest:
The price has broken above the downtrend line (red line) and is retesting it, which could act as a strong support level.
Consolidation:
Past price consolidation suggests this is a key area of accumulation.
Potential Uptrend:
Price displacement above the demand zone, coupled with the upward projection arrow, indicates a bullish reversal possibility.
Green target zone at ₹145-₹150.
Trade Setup:
Long Position:
Entry: ₹97–₹100 (current price near demand zone).
Stop Loss: Below ₹89 (below the demand zone and trendline retest point).
Target 1: ₹130 (conservative).
Target 2: ₹145–₹150 (aggressive target based on the chart).
Risk-Reward Ratio:
With a stop loss of ₹89 and a target of ₹145, the risk-reward ratio is approximately 1:4, which is favorable.
Considerations:
Monitor volume: Increasing volume during upward movement will validate the bullish setup.
Market sentiment: Ensure the overall market trend aligns with this analysis.
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