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 ist aktiv
Target 1: ₹2,955-2,980 done
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.