Strong breakout
Bullish Signals
- Strong breakout from the ₹190-200 consolidation zone.
- Price is trading above all major moving averages (20, 50, 100, 200 SMA).
- Weekly volumes have expanded significantly during the rally, confirming buying interest.
- RSI(14) is around 82, indicating strong momentum but also an overbought condition.
Entry: ₹285-295
Targets:
T1: ₹310
T2: ₹340
T3: ₹380
Stop Loss: Weekly close below ₹270
Risk/Reward: Approximately 1:2.5 to 1:4