NUVAMA WEALTH MANAGE LTD
Pembelian

Trading Idea for Nuvama!

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๐Ÿ“Š Technical Setup:

The stock is in an uptrend, respecting the rising trendline (๐Ÿ“ˆ marked with arrows).
EMA indicators (20, 50, and 200) are well-aligned โœ…, confirming a bullish bias.
The price has recently bounced from the trendline support, showing strong buying interest ๐Ÿ›ก๏ธ.
๐Ÿ’ก Entry Point:

Buy Zone: Around โ‚น6,800โ€“โ‚น6,850 (current levels) ๐Ÿ“, aligning with the trendline and EMA support.
โ›” Stop-Loss:

Place a stop-loss below the recent swing low at โ‚น6,730 โŒ. This level invalidates the setup if breached.
๐ŸŽฏ Targets:

Target 1: โ‚น7,100 (near the previous resistance zone) ๐Ÿฅ‡.
Target 2: โ‚น7,400 (higher resistance zone, aligning with the rectangle breakout zone) ๐Ÿฅˆ.
โš–๏ธ Risk-to-Reward Ratio:

For an entry near โ‚น6,850 with a stop-loss at โ‚น6,730:
Target 1 (โ‚น7,100): Reward = โ‚น250 โ†’ Risk-to-Reward = 1:2.08 โœ…
Target 2 (โ‚น7,400): Reward = โ‚น550 โ†’ Risk-to-Reward = 1:4.58 โœ…โœ…
๐Ÿ“Œ Logic:

The uptrend is supported by multiple trendline bounces ๐Ÿ”„, indicating strong demand.
Price has held above the 50 EMA ๐Ÿ“, a sign of sustained bullish momentum.
Volume spike near the trendline suggests institutional buying ๐Ÿ’ฐ.

โš ๏ธ Caution:

Avoid buying if the price closes below โ‚น6,730 ๐Ÿšจ.
Keep an eye on overall market sentiment ๐ŸŒ, as external factors can influence stock movement.

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