The price has shown a steady recovery after a downtrend and is currently trading around the ₹335–₹340 zone. The recent price action indicates consolidation near resistance, suggesting a potential breakout if momentum sustains.
The key demand/support zone lies near ₹312 – ₹329, which can act as a base on pullbacks.
Trade Plan
Entry Zone:
₹330 – ₹340 (on consolidation or breakout above ₹340)
Stop Loss:
₹312.20 (below key demand zone / invalidation level)
Primary Targets:
₹380.75 (near-term resistance level)
₹433.90 (major resistance level)
₹459.30 (extended target)
₹484.65 – ₹485.25 (final target if momentum continues)
Chart Observations
• Price is forming higher lows after a downtrend, indicating recovery.
• The ₹312 – ₹329 zone is acting as a strong demand area.
• Current price action near ₹340 suggests a breakout setup.
• ₹380 is the immediate resistance where price may face selling pressure.
• A breakout above ₹380 can push the price toward ₹433 and higher levels.
• Structure indicates accumulation before a potential upward move.
Notes
• This is a reversal + breakout setup — confirmation above ₹340 is important.
• The stop loss at ₹312.20 helps manage downside risk effectively.
• Traders may consider partial profit booking near ₹380 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.