DCAL - Strong Resistance Breakout on Daily Chart
DCAL has broken out of the ₹200–₹212 resistance zone with strong bullish momentum.
A gap-up breakout ("Run Away Gap Created") is accompanied by a significant increase in volume, signaling strong buyer interest.
Higher Lows (HL):
The chart shows consistent higher lows, indicating a strong uptrend and accumulation phase prior to the breakout.
Stage 2 Breakout:
The price has entered a new stage of momentum, with potential targets at higher resistance levels (₹240 and ₹254).
Support Levels:
Immediate support is at the breakout zone of ₹190–₹200.
Stronger support lies at the upward trendline near ₹180.
Trade Setup for Next Week:
Entry Point:
Ideal entry is ₹212–₹215, post breakout confirmation, ensuring the price sustains above the resistance zone.
Targets:
First Target: ₹240 (minor resistance area).
Second Target: ₹254 (major resistance, "Stage 2 Breakout Level").
Stop-Loss:
Place a stop-loss just below the breakout level at ₹190, as a breach would invalidate the breakout.
Exit Plan:
Short-term traders: Exit around ₹240.
Medium-term traders: Hold for ₹254, using a trailing stop-loss to secure profits.
A gap-up breakout ("Run Away Gap Created") is accompanied by a significant increase in volume, signaling strong buyer interest.
Higher Lows (HL):
The chart shows consistent higher lows, indicating a strong uptrend and accumulation phase prior to the breakout.
Stage 2 Breakout:
The price has entered a new stage of momentum, with potential targets at higher resistance levels (₹240 and ₹254).
Support Levels:
Immediate support is at the breakout zone of ₹190–₹200.
Stronger support lies at the upward trendline near ₹180.
Trade Setup for Next Week:
Entry Point:
Ideal entry is ₹212–₹215, post breakout confirmation, ensuring the price sustains above the resistance zone.
Targets:
First Target: ₹240 (minor resistance area).
Second Target: ₹254 (major resistance, "Stage 2 Breakout Level").
Stop-Loss:
Place a stop-loss just below the breakout level at ₹190, as a breach would invalidate the breakout.
Exit Plan:
Short-term traders: Exit around ₹240.
Medium-term traders: Hold for ₹254, using a trailing stop-loss to secure profits.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.