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Sundaram Finance | Falling Wedge Breakout with Strong Volume
Pattern: Falling Wedge breakout followed by consolidation (bullish continuation).
Breakout Confirmation: Clean breakout from both the wedge and the consolidation box with strong volume.
Indicators:
Volume: Spike visible (🔵 arrow) – confirming strength.
RSI: Crossed above 60 – entering bullish momentum territory.
EMAs: Price trading above all major EMAs – trend supportive.
Buy Recommendation:
Entry Range: ₹340–₹350
(Post-breakout retest may offer ideal entries if available)
🎯 Target Levels:
Short-Term Target: ₹375
Mid-Term Target: ₹410–₹425
(Based on previous swing highs and wedge height projection)
🛑 Stop Loss:
SL Level: ₹320 (below the consolidation box low)
for educational purposes only
Breakout Confirmation: Clean breakout from both the wedge and the consolidation box with strong volume.
Indicators:
Volume: Spike visible (🔵 arrow) – confirming strength.
RSI: Crossed above 60 – entering bullish momentum territory.
EMAs: Price trading above all major EMAs – trend supportive.
Buy Recommendation:
Entry Range: ₹340–₹350
(Post-breakout retest may offer ideal entries if available)
🎯 Target Levels:
Short-Term Target: ₹375
Mid-Term Target: ₹410–₹425
(Based on previous swing highs and wedge height projection)
🛑 Stop Loss:
SL Level: ₹320 (below the consolidation box low)
for educational purposes only
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.