**GALAXY SURFACTANTS – BULLISH WEEKLY SETUP 📈**
1. **Rounding Bottom Formation:** A well-defined rounding bottom suggests a potential long-term trend reversal from bearish to bullish.
2. **Bullish EMA Crossover:** The 6-week EMA has crossed above the 18-week EMA, indicating improving medium-term momentum.
3. **Successful Neckline Retest:** Price has reclaimed the ₹2,100 zone and successfully retested it as support, strengthening the bullish structure.
4. **Higher Highs & Higher Lows:** The recent weekly candles show an emerging bullish price structure with sustained buying interest.
5. **MACD Bullish Expansion:** MACD remains above the signal line and zero line, with widening separation suggesting strengthening upside momentum.
6. **Strong Volume Participation:** Elevated trading volumes during major price moves indicate increased market participation and interest.
7. **Trading Above Key Moving Averages:** Price is holding above both the 6-week and 18-week EMAs, supporting the developing uptrend.
8. **Attractive Risk–Reward Setup:** The chart highlights a potential upside target of ₹3,440, with a proposed entry around ₹2,525 and invalidation near ₹2,383, offering an approximate 6.4:1 reward-to-risk ratio.
🎯 **Target:** ₹3,440
📍 **Entry trigger:** Above ₹2,525
🛑 **Stop-loss:** ₹2,383
📊 **Timeframe:** Weekly
**Bullish bias remains intact as long as the emerging higher-low structure holds. A sustained breakout above ₹2,525 would strengthen confirmation.**
1. **Rounding Bottom Formation:** A well-defined rounding bottom suggests a potential long-term trend reversal from bearish to bullish.
2. **Bullish EMA Crossover:** The 6-week EMA has crossed above the 18-week EMA, indicating improving medium-term momentum.
3. **Successful Neckline Retest:** Price has reclaimed the ₹2,100 zone and successfully retested it as support, strengthening the bullish structure.
4. **Higher Highs & Higher Lows:** The recent weekly candles show an emerging bullish price structure with sustained buying interest.
5. **MACD Bullish Expansion:** MACD remains above the signal line and zero line, with widening separation suggesting strengthening upside momentum.
6. **Strong Volume Participation:** Elevated trading volumes during major price moves indicate increased market participation and interest.
7. **Trading Above Key Moving Averages:** Price is holding above both the 6-week and 18-week EMAs, supporting the developing uptrend.
8. **Attractive Risk–Reward Setup:** The chart highlights a potential upside target of ₹3,440, with a proposed entry around ₹2,525 and invalidation near ₹2,383, offering an approximate 6.4:1 reward-to-risk ratio.
🎯 **Target:** ₹3,440
📍 **Entry trigger:** Above ₹2,525
🛑 **Stop-loss:** ₹2,383
📊 **Timeframe:** Weekly
**Bullish bias remains intact as long as the emerging higher-low structure holds. A sustained breakout above ₹2,525 would strengthen confirmation.**
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.