*Accumulation/Distribution: Long consolidation near ₹270–₹311
*Break of Structure (BOS): Trendline breakout + recent close above prior top
*Neutral toward Bullish: Awaiting volume and price action confirmation to validate trend shift
1. Defined Range Structure
Support ~₹270 (red line) holding over 4+ months
Resistance ~₹311–₹315 (blue line) tested multiple times before today
2. Possible Breakout Attempt
Price has breached the descending trend line—an early mark of bullish structure shift
Close is marginally above resistance, but lacks volume confirmation for breakout validation
3. Volume & Confirmation
No substantial volume spike yet—breakouts typically require accompanying volume
Watch for multi-session closes above ₹315 with sustained volume to support continuation
4. Pullback as an Opportunity
Retracing into ₹305–₹310 could form a higher-low
Such a move would align with healthy trend behavior, offering clearer structure and stronger validation
*Break of Structure (BOS): Trendline breakout + recent close above prior top
*Neutral toward Bullish: Awaiting volume and price action confirmation to validate trend shift
1. Defined Range Structure
Support ~₹270 (red line) holding over 4+ months
Resistance ~₹311–₹315 (blue line) tested multiple times before today
2. Possible Breakout Attempt
Price has breached the descending trend line—an early mark of bullish structure shift
Close is marginally above resistance, but lacks volume confirmation for breakout validation
3. Volume & Confirmation
No substantial volume spike yet—breakouts typically require accompanying volume
Watch for multi-session closes above ₹315 with sustained volume to support continuation
4. Pullback as an Opportunity
Retracing into ₹305–₹310 could form a higher-low
Such a move would align with healthy trend behavior, offering clearer structure and stronger validation
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.