Bias: Bullish (Breakout Attempt — Awaiting Confirmation)
Shivalik Rasayan is attempting a breakout from a prolonged descending channel on the daily timeframe. Today's candle is testing a key confluence zone — horizontal resistance (~₹292.75) and a descending trendline from Aug 2024 highs, both being challenged simultaneously.
What makes this worth watching right now is the volume — today's breakout attempt is accompanied by one of the largest volume spikes in recent months, suggesting strong participation at this level.
Setup Details:
• Downtrend: Extended decline from ~₹475 to ~₹225 over nearly a year
• Breakout Zone: ~₹292.75 (horizontal resistance + descending trendline confluence)
• Volume: Excellent — multi-month high on the breakout attempt
• Stochastic: Rising strongly from oversold, confirming momentum shift
This is an early breakout catch — price has not yet closed above the breakout zone. A confirmed daily close above ₹292.75 is required to validate the setup.
Trade Parameters (on confirmed close above ₹292.75):
• Entry: Daily close above ₹292.75
• Target 1: ₹339
• Target 2: ₹382.80
• Stop Loss: ₹245.80 (swing low support)
• Trade Duration: 6 – 10 weeks
Invalidation:
Daily close below ₹245.80 invalidates the setup.
For educational purposes only. Not financial advice.
#ShivalikRasayan #SHIVALIK #NSE #TrendlineBreakout #TechnicalAnalysis #SwingTrading #IndianStockMarket #Education #TradingView
Shivalik Rasayan is attempting a breakout from a prolonged descending channel on the daily timeframe. Today's candle is testing a key confluence zone — horizontal resistance (~₹292.75) and a descending trendline from Aug 2024 highs, both being challenged simultaneously.
What makes this worth watching right now is the volume — today's breakout attempt is accompanied by one of the largest volume spikes in recent months, suggesting strong participation at this level.
Setup Details:
• Downtrend: Extended decline from ~₹475 to ~₹225 over nearly a year
• Breakout Zone: ~₹292.75 (horizontal resistance + descending trendline confluence)
• Volume: Excellent — multi-month high on the breakout attempt
• Stochastic: Rising strongly from oversold, confirming momentum shift
This is an early breakout catch — price has not yet closed above the breakout zone. A confirmed daily close above ₹292.75 is required to validate the setup.
Trade Parameters (on confirmed close above ₹292.75):
• Entry: Daily close above ₹292.75
• Target 1: ₹339
• Target 2: ₹382.80
• Stop Loss: ₹245.80 (swing low support)
• Trade Duration: 6 – 10 weeks
Invalidation:
Daily close below ₹245.80 invalidates the setup.
For educational purposes only. Not financial advice.
#ShivalikRasayan #SHIVALIK #NSE #TrendlineBreakout #TechnicalAnalysis #SwingTrading #IndianStockMarket #Education #TradingView
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.