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INDUSTOWER - Support line and Bullish Engulfing
The 324 level, which previously acted as a strong resistance since 2019, is now serving as a solid support, as indicated by the price holding above the orange trendline.
On the daily timeframe, the price has successfully broken out of the triangle pattern. Additionally, the previous week's bullish engulfing candle on the weekly timeframe further supports the bullish bias.
This setup presents a favorable swing trade opportunity, with a target of ₹500 and a stop-loss placed below ₹310 on a weekly closing basis.
On the daily timeframe, the price has successfully broken out of the triangle pattern. Additionally, the previous week's bullish engulfing candle on the weekly timeframe further supports the bullish bias.
This setup presents a favorable swing trade opportunity, with a target of ₹500 and a stop-loss placed below ₹310 on a weekly closing basis.
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Subscribe our Youtube and Telegram channel (Breakout_Spotter) now using the link below to get recommendations for Intraday, breakout and swing trading! t.me/+Jrf3zWm9cM1mODI1
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.