Overview & Technical Analysis
Looking at the weekly chart for Divgi TorqTransfer Systems Ltd, we can observe a textbook example of a "break and retest" technical setup.
The stock recently broke out of a structural base, forcefully clearing a major horizontal resistance line at 1,115.4.
This breakout was accompanied by a massive surge in buying volume, validating the upward momentum.
Following the initial upside rally, the price pulled back to retest the 1,115.4 level. As per classic market structure rules, previous resistance has successfully flipped into new support.
The most recent weekly candlestick shows a strong bullish bounce directly off this 1,115.4 support line, pushing the current price to 1,239.1 and indicating that buyers are aggressively defending this zone.
Trade Setup
Bias: Long
Entry Point: Current Market Price near 1,239.1, or scaling in on any minor intraday dips back toward the 1,150–1,200 demand zone.
Stop Loss: A daily or weekly close below 1,050.
Placing the stop below the 1,115.4 support line allows breathing room for standard market volatility and wicks, while ensuring risk is cut if the support fails and the setup is invalidated.
Target: The primary target is a retest of the recent swing high around 1,320–1,350.
Should momentum sustain, an extended target of 1,500+ is viable based on the depth of the prior consolidation base.
Looking at the weekly chart for Divgi TorqTransfer Systems Ltd, we can observe a textbook example of a "break and retest" technical setup.
The stock recently broke out of a structural base, forcefully clearing a major horizontal resistance line at 1,115.4.
This breakout was accompanied by a massive surge in buying volume, validating the upward momentum.
Following the initial upside rally, the price pulled back to retest the 1,115.4 level. As per classic market structure rules, previous resistance has successfully flipped into new support.
The most recent weekly candlestick shows a strong bullish bounce directly off this 1,115.4 support line, pushing the current price to 1,239.1 and indicating that buyers are aggressively defending this zone.
Trade Setup
Bias: Long
Entry Point: Current Market Price near 1,239.1, or scaling in on any minor intraday dips back toward the 1,150–1,200 demand zone.
Stop Loss: A daily or weekly close below 1,050.
Placing the stop below the 1,115.4 support line allows breathing room for standard market volatility and wicks, while ensuring risk is cut if the support fails and the setup is invalidated.
Target: The primary target is a retest of the recent swing high around 1,320–1,350.
Should momentum sustain, an extended target of 1,500+ is viable based on the depth of the prior consolidation base.
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.