Bullish Setup – Container Corporation of India Ltd
Trade Type: Swing / Positional
Bias: Bullish
Current Price: ₹486.65
Technical Context:
Price has retraced into a strong confluence zone aligning with the 50 SMA on the weekly timeframe and the 50% retracement of the previous weekly candle. This area has historically acted as a demand zone, supported by prior pivot structure and moving average clustering.
Trade Thesis:
The recent correction appears to be a healthy pullback within a broader uptrend. Buyers are expected to defend the ₹500–₹504 zone, which coincides with the weekly 50 SMA and mid-range retracement. A bullish reversal candle or sustained close above ₹490 could confirm renewed momentum.
Entry Zone: ₹485–₹490
Stop Loss: Below ₹475 (weekly structure invalidation)
Target 1: ₹513
Target 2: ₹526
Risk–Reward: ~1:2.5
Narrative:
This setup reflects a textbook trend continuation play—price consolidating above key moving averages after a strong impulse leg. The confluence of dynamic and static support levels enhances the probability of a bullish breakout toward the previous swing highs.
Bias: Bullish
Current Price: ₹486.65
Technical Context:
Price has retraced into a strong confluence zone aligning with the 50 SMA on the weekly timeframe and the 50% retracement of the previous weekly candle. This area has historically acted as a demand zone, supported by prior pivot structure and moving average clustering.
Trade Thesis:
The recent correction appears to be a healthy pullback within a broader uptrend. Buyers are expected to defend the ₹500–₹504 zone, which coincides with the weekly 50 SMA and mid-range retracement. A bullish reversal candle or sustained close above ₹490 could confirm renewed momentum.
Entry Zone: ₹485–₹490
Stop Loss: Below ₹475 (weekly structure invalidation)
Target 1: ₹513
Target 2: ₹526
Risk–Reward: ~1:2.5
Narrative:
This setup reflects a textbook trend continuation play—price consolidating above key moving averages after a strong impulse leg. The confluence of dynamic and static support levels enhances the probability of a bullish breakout toward the previous swing highs.
Trade active
Enter at CMP as the stock may not test the zone keeping SL as planned. Trade closed: stop reached
Trade closed 
#Take proper position size
#Safe trading
#Safe trading
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.
#Take proper position size
#Safe trading
#Safe trading
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.