SWAN ENERGY has shown a breakout above a key horizontal resistance level on the daily chart, accompanied by a nearly 2.5 times volume surge near the breakout zone, as seen earlier, supported by strong momentum.
🔍 Breakout Context:
- Price might break above the ~₹484 horizontal resistance, which had held for over 6 months.
The breakout zone has been supported by 2.5X volume and a range 3X of average near the resistance zone.
- The price is also trading above both the 50- and 100-day SMAs, indicating strong trend continuation.
- This aligns with a bullish continuation setup.
📉 Trade Plan:
- CMP: ₹485.2
- Entry: Near ₹484
- Target: ₹566 (~16.5% upside from CMP)
- Stop-Loss: ₹450
- Risk-Reward Ratio: ~ 1 : 2.3
📌 Note:
- Wait for the closing of this candle, enter the trade near 3:20 PM, or get confirmation on 75min/1Hr TF.
- Avoid chasing the extended move unless confident in intraday momentum.
⚠️ Disclaimer: This post is for educational purposes only and not financial advice. Always do your research or consult a financial advisor before trading.
🔍 Breakout Context:
- Price might break above the ~₹484 horizontal resistance, which had held for over 6 months.
The breakout zone has been supported by 2.5X volume and a range 3X of average near the resistance zone.
- The price is also trading above both the 50- and 100-day SMAs, indicating strong trend continuation.
- This aligns with a bullish continuation setup.
📉 Trade Plan:
- CMP: ₹485.2
- Entry: Near ₹484
- Target: ₹566 (~16.5% upside from CMP)
- Stop-Loss: ₹450
- Risk-Reward Ratio: ~ 1 : 2.3
📌 Note:
- Wait for the closing of this candle, enter the trade near 3:20 PM, or get confirmation on 75min/1Hr TF.
- Avoid chasing the extended move unless confident in intraday momentum.
⚠️ Disclaimer: This post is for educational purposes only and not financial advice. Always do your research or consult a financial advisor before trading.
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.
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.