A high-conviction macro setup is maturing on the weekly timeframe at a major multi-year inflection point.
📊 Technical Setup
• Macro Floor: Strong historical accumulation and psychological support at ₹2,000.
• Price Pattern: Clean corrective descending channel active since late 2024.
• RSI Divergence: Powerful weekly bullish divergence (price making lower lows, RSI making higher lows) signals seller exhaustion.
🎯 The Trigger
Wait for a clean weekly candle close above the descending channel and the horizontal ₹2,400 resistance level on expanding volume. A valid breakout requires a volume spike 1.5x–2x above the recent average.
📉 Trade Parameters
• Entry Trigger: ₹2,420 – ₹2,450 (Confirmed weekly close above ₹2,400)
• Stop-Loss (SL): ₹2,200 (Weekly close basis, back inside the channel)
• Target 1 (T1): ₹2,850 (Previous structural swing high)
• Target 2 (T2): ₹3,150 (Macro confluence zone)
• Risk-to-Reward (R2R): 1:2 (to T1) | 1:3.3 (to T2)
Disclaimer: Educational purposes only. Manage your risk.
📊 Technical Setup
• Macro Floor: Strong historical accumulation and psychological support at ₹2,000.
• Price Pattern: Clean corrective descending channel active since late 2024.
• RSI Divergence: Powerful weekly bullish divergence (price making lower lows, RSI making higher lows) signals seller exhaustion.
🎯 The Trigger
Wait for a clean weekly candle close above the descending channel and the horizontal ₹2,400 resistance level on expanding volume. A valid breakout requires a volume spike 1.5x–2x above the recent average.
📉 Trade Parameters
• Entry Trigger: ₹2,420 – ₹2,450 (Confirmed weekly close above ₹2,400)
• Stop-Loss (SL): ₹2,200 (Weekly close basis, back inside the channel)
• Target 1 (T1): ₹2,850 (Previous structural swing high)
• Target 2 (T2): ₹3,150 (Macro confluence zone)
• Risk-to-Reward (R2R): 1:2 (to T1) | 1:3.3 (to T2)
Disclaimer: Educational purposes only. Manage your risk.
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.