Technical Analysis & Trade Setup
Symbol: PNGSREVA (PNGS Reva Diamond Jewellery Limited) — Daily Timeframe (NSE)
Current Price: ₹687.75 (-2.02% intraday move)
Market Structure: Following an extended consolidation phase and multiple "Buy Reversal" signals near the local demand zone around ₹500–₹527, the stock has initiated a strong momentum breakout. The price action shows a strong trend reversal, pushing sharply past near-term moving averages and prior swing resistance to initiate a fresh bullish leg.
Key Technical Trade Levels
Entry Zone: ~₹685.00 – ₹688.00 (Breakout continuation / pullback zone)
Stop Loss (SL): ₹601.59 (Defined risk level set below the immediate breakout base and key swing support)
Immediate Target 1: ₹824.65 (Key horizontal projection level)
Extended Target 2: ₹998.25 (Upper resistance expansion target zone)
Trade Bias & Summary
The stock displays strong trend reversal characteristics out of a multi-month consolidation base. Maintaining support above the ₹601.59 level on daily closes keeps the setup favorable for upside continuation, targeting an initial push toward the ₹824.65 resistance barrier and extending toward macro peak targets at ₹998.25.
Disclaimer: This post is for educational and technical analysis purposes only and does not constitute financial or investment advice. Always manage your position sizing and risk control parameters responsibly.
Symbol: PNGSREVA (PNGS Reva Diamond Jewellery Limited) — Daily Timeframe (NSE)
Current Price: ₹687.75 (-2.02% intraday move)
Market Structure: Following an extended consolidation phase and multiple "Buy Reversal" signals near the local demand zone around ₹500–₹527, the stock has initiated a strong momentum breakout. The price action shows a strong trend reversal, pushing sharply past near-term moving averages and prior swing resistance to initiate a fresh bullish leg.
Key Technical Trade Levels
Entry Zone: ~₹685.00 – ₹688.00 (Breakout continuation / pullback zone)
Stop Loss (SL): ₹601.59 (Defined risk level set below the immediate breakout base and key swing support)
Immediate Target 1: ₹824.65 (Key horizontal projection level)
Extended Target 2: ₹998.25 (Upper resistance expansion target zone)
Trade Bias & Summary
The stock displays strong trend reversal characteristics out of a multi-month consolidation base. Maintaining support above the ₹601.59 level on daily closes keeps the setup favorable for upside continuation, targeting an initial push toward the ₹824.65 resistance barrier and extending toward macro peak targets at ₹998.25.
Disclaimer: This post is for educational and technical analysis purposes only and does not constitute financial or investment advice. Always manage your position sizing and risk control parameters responsibly.
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.