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
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.