Breakout from Descending Channel – Bullish Setup Active
Price has broken out of a falling channel/wedge pattern
Strong bullish candle indicates momentum shift from bearish → bullish. Structure now forming a higher low near the support trendline
✅ Current Price: ~₹4245
🟢 Immediate Resistance / Target 1: ₹4450 zone
🚀 Major Resistance / Target 2: ₹4870 (previous swing high)
🛑 Stop Loss: ₹4050 (below recent support 4033)
TECHNICAL INSIGHTS
Breakout backed by trendline support confluence
Price sustaining above moving average (trend strength)
Possible retest of breakout zone before continuation
“CRISIL showing bullish breakout from falling channel. Momentum building with upside targets ₹4450 / ₹4870. Buy on dips looks favorable. Keep SL below ₹4050.” (4033)
**Disclaimer:
This is for educational purposes only. Not a buy/sell recommendation. Do your own analysis before investing. I am not responsible for any profit/loss.
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.
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.