The price has shown a recovery after a prolonged downtrend and is currently trading around the ₹410–₹415 zone. The recent price action indicates consolidation near resistance, suggesting a potential breakout if momentum sustains.
The key demand/support zone lies near ₹367 – ₹397, which can act as a strong base on pullbacks.
Trade Plan
Entry Zone:
₹400 – ₹415 (on consolidation or breakout above ₹415)
Stop Loss:
₹367.15 (below key demand zone / invalidation level)
Primary Targets:
₹468.95 (near-term resistance level)
₹543.35 (major resistance level)
₹579.50 (extended target)
₹614.85 – ₹615.60 (final target if momentum continues)
Chart Observations
• Price is forming higher lows after a downtrend, indicating recovery.
• The ₹367 – ₹397 zone is acting as a strong demand area.
• Current price action near ₹415 suggests a breakout setup.
• ₹468 is the immediate resistance where price may face selling pressure.
• A breakout above ₹468 can push the price toward ₹543 and higher levels.
• Structure indicates a shift from bearish to bullish momentum.
Notes
• This is a reversal + breakout setup — confirmation above ₹415 is important.
• The stop loss at ₹367.15 helps manage downside risk effectively.
• Traders may consider partial profit booking near ₹468 and trail positions for higher targets.
Disclaimer
This idea is for educational purposes only and not financial or investment advice. Markets are volatile and conditions can change quickly. Always do your own analysis and apply proper risk management before taking any trades.