📊 Technical Breakdown – Ramkrishna Forgings
🔍 Key Observations:
Current Price: ₹623.90
Price Action:
Strong bullish candle today (+7.02%) closing above previous resistance zone.
2-day move = ₹56.55 gain (~9.06%) — shows strong momentum.
Volume: 8.03M – a significant spike compared to recent sessions → likely institutional buying.
Indicators:
Price is breaking out from a tight consolidation zone.
Appears to be a Bollinger Band breakout and possibly a Donchian Channel breakout.
🔼 Bullish Breakout Confirmation
The breakout from the ₹610–₹620 zone with strong volume and body close above is a classic breakout setup.
The chart shows a measured move box (projection) up to ~₹675–₹690 zone — possible first target range.
✅ Stage Identification
Stage 2 – Start of New Uptrend
Consolidation followed by a volume breakout = early Stage 2.
Price now trades above 20-DMA and likely close to crossing longer-term averages.
🧠 Trading Plan
Action Type Entry SL Target Range
Aggressive Long CMP ₹623.90 or dips to ₹615 ₹595 (below support zone) ₹675–₹690 (short-term)
Conservative Wait for closing above ₹635 ₹610 ₹700–₹725 (medium-term)
📌 Summary Table
Metric Value/Observation
Trend Turning Bullish (Stage 2 breakout)
Volume Highest in months – confirms strength
Breakout Level ₹620
Next Resistance ₹675–690 zone
Stop-loss (Swing) ₹595
🔍 Key Observations:
Current Price: ₹623.90
Price Action:
Strong bullish candle today (+7.02%) closing above previous resistance zone.
2-day move = ₹56.55 gain (~9.06%) — shows strong momentum.
Volume: 8.03M – a significant spike compared to recent sessions → likely institutional buying.
Indicators:
Price is breaking out from a tight consolidation zone.
Appears to be a Bollinger Band breakout and possibly a Donchian Channel breakout.
🔼 Bullish Breakout Confirmation
The breakout from the ₹610–₹620 zone with strong volume and body close above is a classic breakout setup.
The chart shows a measured move box (projection) up to ~₹675–₹690 zone — possible first target range.
✅ Stage Identification
Stage 2 – Start of New Uptrend
Consolidation followed by a volume breakout = early Stage 2.
Price now trades above 20-DMA and likely close to crossing longer-term averages.
🧠 Trading Plan
Action Type Entry SL Target Range
Aggressive Long CMP ₹623.90 or dips to ₹615 ₹595 (below support zone) ₹675–₹690 (short-term)
Conservative Wait for closing above ₹635 ₹610 ₹700–₹725 (medium-term)
📌 Summary Table
Metric Value/Observation
Trend Turning Bullish (Stage 2 breakout)
Volume Highest in months – confirms strength
Breakout Level ₹620
Next Resistance ₹675–690 zone
Stop-loss (Swing) ₹595
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Publicações relacionadas
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.