Setup Type: Reversal + Breakout | Conviction: Medium (Confirmation Needed)
Chart Framework: Price Action + Chart Patterns
WELSPUN is printing a strong bullish reversal structure, supported by both horizontal and diagonal resistance levels:
🟡 Double Bottom at Equal Lows – Classic reversal base forming after a downtrend.
📏 Equal Lows Liquidity Grab – Smart money may have hunted stops before pivoting.
🟢 Massive Volume Spike – Indicates strong interest building up.
📐 Bearish Trendline Resistance + Neckline acting as key breakout zones.
🧠 Trade Plan:
🕒 Wait for breakout above ₹133–135 zone (neckline + trendline overlap).
📍 Entry Confirmation = Daily close above ₹135 with strong volume.
🎯 Target = ₹180+ based on measured move from the pattern.
💡 High-Probability Trigger: Once the neckline breaks, momentum buyers will likely step in. Confluence of trendline + structure gives this trade extra juice.
Chart Framework: Price Action + Chart Patterns
WELSPUN is printing a strong bullish reversal structure, supported by both horizontal and diagonal resistance levels:
🟡 Double Bottom at Equal Lows – Classic reversal base forming after a downtrend.
📏 Equal Lows Liquidity Grab – Smart money may have hunted stops before pivoting.
🟢 Massive Volume Spike – Indicates strong interest building up.
📐 Bearish Trendline Resistance + Neckline acting as key breakout zones.
🧠 Trade Plan:
🕒 Wait for breakout above ₹133–135 zone (neckline + trendline overlap).
📍 Entry Confirmation = Daily close above ₹135 with strong volume.
🎯 Target = ₹180+ based on measured move from the pattern.
💡 High-Probability Trigger: Once the neckline breaks, momentum buyers will likely step in. Confluence of trendline + structure gives this trade extra juice.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.