The price has shown signs of stabilization after a sharp downtrend and is currently trading around the ₹425–₹440 zone. The recent price action indicates consolidation near resistance, suggesting a potential recovery if momentum sustains.
The key demand/support zone lies near ₹394 – ₹412, which can act as a base on pullbacks.
Trade Plan
Entry Zone:
₹420 – ₹440 (on consolidation or breakout above ₹440)
Stop Loss:
₹394.25 (below key demand zone / invalidation level)
Primary Targets:
₹468.95 (near-term resistance level)
₹526.80 (major resistance level)
₹555.40 (extended target)
₹583.95 – ₹584.65 (final target if momentum continues)
Chart Observations
• Price has formed a base after a strong correction, indicating possible recovery.
• The ₹394 – ₹412 zone is acting as a strong demand area.
• Current price action near ₹440 suggests a breakout setup.
• ₹468 is the immediate resistance where price may face selling pressure.
• A breakout above ₹468 can push the price toward ₹526 and higher levels.
• Structure indicates early reversal from bearish to neutral/bullish.
Notes
• This is a reversal + recovery setup — confirmation above ₹440 is important.
• The stop loss at ₹394.25 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.