PG Electroplast: Weekly Trendline Breakout ,Is a Fresh Uptrend ?
After several months of trading below a descending trendline, PG Electroplast has finally delivered a decisive breakout on the weekly timeframe.
📈 Technical Highlights:
✅ Breakout above the long-term descending trendline.
✅ Price reclaimed the ₹625–630 resistance zone.
✅ Weekly closing above the breakout level strengthens the bullish case.
✅ Higher lows indicate improving buying interest.
✅ Volume expansion supports the breakout.
🎯 Trading Plan:
Entry: Above ₹630 or on a successful retest of the breakout zone.
Support: ₹620–625
Invalidation: Weekly close below ₹595
Target Zone: ₹780–810
A sustained move above the breakout level could trigger the next leg of the uptrend, while failure to hold above support would invalidate the setup.
Always wait for confirmation and manage your risk before entering any trade.