GRSE: 6-Month Wedge Breakout | Shipbuilding Sector Rally Start
STRONG BUY Setup ⚓
Entry: ₹2,897-2,920 (Current Level)
Target 1: ₹2,955-2,980
Target 2: ₹3,018-3,050
Target 3: ₹3,087-3,120
Target 4: ₹3,200-3,300+ (Extended Breakout Target)
Stop Loss: ₹2,800
Technical Rationale:
BREAKING OUT from 6-month falling wedge/descending channel (marked with black trendlines)
Strong +5.36% surge on daily chart showing powerful momentum
Breaking above both descending trendlines convincingly
Volume at 3.47M - strong for daily timeframe
Price breaking above critical resistance zone at 2,900-2,950
Trading above major support level at 2,800 (blue horizontal line)
RSI trending upward around 65-70 - strong bullish momentum
Defense/Shipbuilding sector - strategic importance with government focus
Breaking above rectangle consolidation (2,700-2,900 range)
Multiple resistance levels clearly marked: 2,955, 3,018, 3,087
Clean breakout from multi-month consolidation
Previous high at 3,600+ shows significant upside potential
Risk-Reward: Excellent 1:4+ ratio for extended targets
Pattern: FALLING WEDGE BREAKOUT on DAILY Chart - highly reliable bullish reversal pattern combining with rectangle breakout
Strategy: Short to medium-term swing/positional (weeks to months)
Book 20% at T1 (2,970), 20% at T2 (3,035), 20% at T3 (3,100)
Hold remaining 40% for extended target 3,200-3,300+
Trail SL to 2,920 after crossing T1
Disclaimer: For educational purposes only. Not SEBI registered.
Entry: ₹2,897-2,920 (Current Level)
Target 1: ₹2,955-2,980
Target 2: ₹3,018-3,050
Target 3: ₹3,087-3,120
Target 4: ₹3,200-3,300+ (Extended Breakout Target)
Stop Loss: ₹2,800
Technical Rationale:
BREAKING OUT from 6-month falling wedge/descending channel (marked with black trendlines)
Strong +5.36% surge on daily chart showing powerful momentum
Breaking above both descending trendlines convincingly
Volume at 3.47M - strong for daily timeframe
Price breaking above critical resistance zone at 2,900-2,950
Trading above major support level at 2,800 (blue horizontal line)
RSI trending upward around 65-70 - strong bullish momentum
Defense/Shipbuilding sector - strategic importance with government focus
Breaking above rectangle consolidation (2,700-2,900 range)
Multiple resistance levels clearly marked: 2,955, 3,018, 3,087
Clean breakout from multi-month consolidation
Previous high at 3,600+ shows significant upside potential
Risk-Reward: Excellent 1:4+ ratio for extended targets
Pattern: FALLING WEDGE BREAKOUT on DAILY Chart - highly reliable bullish reversal pattern combining with rectangle breakout
Strategy: Short to medium-term swing/positional (weeks to months)
Book 20% at T1 (2,970), 20% at T2 (3,035), 20% at T3 (3,100)
Hold remaining 40% for extended target 3,200-3,300+
Trail SL to 2,920 after crossing T1
Disclaimer: For educational purposes only. Not SEBI registered.
Trade ativo
Target 1: ₹2,955-2,980 done
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.