Trading Idea
Bias: Bullish with caution at current support zone.
Entry Zone: ₹165–170 (near 75% fib retracement and EMA cluster).
Targets:
Short‑term: ₹178–185 (EMA 21 resistance zone).
Medium‑term: ₹200–210 (previous swing highs).
Stop‑Loss: Below ₹160 (to protect against breakdown under fib support).
Risk Note: If price fails to hold above EMA 21 and retraces below ₹160, weakness could extend toward ₹150 (SMA 200).
⚠️ Risks & Considerations
Overbought MFI: Money Flow Index recently above 90, suggesting possible short‑term pullback.
Market Volatility: Consumer durables sector is sensitive to demand cycles; watch for macro triggers.
False Breakouts: A close below ₹160 would invalidate bullish setup.
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.