🟢 Long Trade Setup (Bullish Reversal Play)
Current Price: ₹7,346.50
Fibonacci Level Tested: 38.2% at ₹7,361 — a crucial breakout level
Trendline Breakout: Price has broken above falling trendline with volume confirmation
RSI: Near 60 – bullish momentum building
🔼 Buy Zone
Entry (Buy above): ₹7,375 (confirm above 38.2% Fib resistance)
Target 1: ₹7,825 (Fib 0.5 level)
Target 2: ₹8,291 (Fib 0.618)
Target 3: ₹8,953 (Fib 0.786 for aggressive swing)
Stop Loss: ₹6,785 (below 23.6% Fib retracement)
🔻 Short Trade Setup (if rejection happens)
Sell Below: ₹7,200
Target: ₹6,785
Stoploss: ₹7,375
📅 Timeframe: Daily (1D)
📊 Risk/Reward Ratio: 1:2.5+
🔁 Valid for: Next 2–4 weeks
For Education Purposes Only
Current Price: ₹7,346.50
Fibonacci Level Tested: 38.2% at ₹7,361 — a crucial breakout level
Trendline Breakout: Price has broken above falling trendline with volume confirmation
RSI: Near 60 – bullish momentum building
🔼 Buy Zone
Entry (Buy above): ₹7,375 (confirm above 38.2% Fib resistance)
Target 1: ₹7,825 (Fib 0.5 level)
Target 2: ₹8,291 (Fib 0.618)
Target 3: ₹8,953 (Fib 0.786 for aggressive swing)
Stop Loss: ₹6,785 (below 23.6% Fib retracement)
🔻 Short Trade Setup (if rejection happens)
Sell Below: ₹7,200
Target: ₹6,785
Stoploss: ₹7,375
📅 Timeframe: Daily (1D)
📊 Risk/Reward Ratio: 1:2.5+
🔁 Valid for: Next 2–4 weeks
For Education Purposes Only
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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.