The price has given a strong bullish breakout after a consolidation phase and is currently trading around the ₹94–₹96 zone. The recent momentum indicates strength, suggesting a continuation of the uptrend if the price sustains above the breakout level.
The key demand/support zone lies near ₹66 – ₹86, which can act as a strong base on pullbacks.
Trade Plan
Entry Zone:
₹90 – ₹96 (on consolidation or minor pullback near breakout zone)
Stop Loss:
₹66.22 (below key demand zone / invalidation level)
Primary Targets:
₹123.23 (near-term resistance level)
₹159.68 (major resistance level)
₹177.91 (extended target)
₹196.13 – ₹196.55 (final target if momentum continues)
Chart Observations
• Price has broken out strongly from a consolidation range with bullish candles.
• The ₹66 – ₹86 zone is acting as a strong demand area.
• Current price action near ₹95 indicates breakout strength.
• ₹123 is the immediate resistance where price may face selling pressure.
• A breakout above ₹123 can push the price toward ₹159 and higher levels.
• Structure shows higher highs and higher lows confirming bullish trend.
Notes
• This is a breakout continuation setup — buying on dips is favorable.
• The stop loss at ₹66.22 helps manage downside risk effectively.
• Traders may consider partial profit booking near ₹123 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.