Key Observations:
Price rejected from the upper resistance near ₹305–₹308, forming a healthy pullback.
The demand zone between ₹291–₹297 coincides with the POC, suggesting accumulation.
Moving averages are tightly aligned, indicating potential momentum build-up.
A bullish reversal candle from this zone could trigger continuation toward ₹315+.
Trade Plan:
Entry: Around ₹292–₹297 (within demand zone)
Stop Loss: Below ₹280 (structure invalidation)
Target: ₹315–₹320 (previous swing high)
Risk–Reward: Approx. 1:2
Bias: Bullish, as long as price sustains above ₹291 and demand zone holds.
Price rejected from the upper resistance near ₹305–₹308, forming a healthy pullback.
The demand zone between ₹291–₹297 coincides with the POC, suggesting accumulation.
Moving averages are tightly aligned, indicating potential momentum build-up.
A bullish reversal candle from this zone could trigger continuation toward ₹315+.
Trade Plan:
Entry: Around ₹292–₹297 (within demand zone)
Stop Loss: Below ₹280 (structure invalidation)
Target: ₹315–₹320 (previous swing high)
Risk–Reward: Approx. 1:2
Bias: Bullish, as long as price sustains above ₹291 and demand zone holds.
Order cancelled
Trade cancelled as price missed the levels and moved up making higher high.
#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.