GOPAL SNACKS LTDלונג
Technical Analysis of Gopal Snacks Ltd....TRADE FOR LATER
INVEST BEFORE READ CAREFULLY / TAKE TRADE ON YOUR OWN RISK
RISK~REWARD PROFILE = 5.91:1
GOPAL SANEKS Technical chart Observations:-
~Price Correction:-
The stock corrected around 29%, possibly due to the negative news (fire in a warehouse).
The price appears to be approaching a strong psychological support level at ₹335.
~Pattern Formation:-
A potential Head and Shoulders pattern is visible, signaling a bearish reversal that already played out.
The price dropped significantly post-pattern completion.
~Support Level:-
Key support is around ₹322.80, which is highlighted as the entry point for a possible bounce.
Stop-loss (SL) is marked at ₹304.50 to limit downside risk.
~Target Levels (TP):-
~TP1: ₹362.30
~TP2: ₹386.35
~TP3: ₹430.95
~Volume:-
The trading volume on the recent downtrend is moderate, indicating cautious selling.
~Trend:-
Currently in a downtrend but nearing a critical psychological support zone.
Trading Strategy:
Wait for Confirmation: Enter the trade only if the price shows a clear bounce or reversal signs at the ₹322.80 level.
~Risk-Reward:-
Stop-loss: ₹304.50 (downside ~₹18.30 per share).
Target 1 (TP1): ₹362.30 (upside ~₹39.50).
Risk-reward ratio is favorable if TP1 is achieved.
~Notes:-
This is a counter-trend trade (going against the dominant downtrend), so caution is advised.
Monitor closely for any trend continuation or reversal indicators (e.g., candlestick patterns or volume spikes).
The highlighted targets (TP1-TP3) should be treated as milestones—book partial profits at each.
Final Note:
This chart suggests a well-structured trade setup, but execution depends on confirmation of price action near the support zone. Traders should monitor market sentiment, news updates, and technical signals before entering the trade.
Disclaimer:
I am not a SEBI-registered advisor. These levels are for educational purposes only. Please trade at your own risk. Consult a professional financial advisor for tailored advice. Like and share if you found this helpful!
LIKE,SHARE,SUBSCRIBE Alpha_strike_trader
RISK~REWARD PROFILE = 5.91:1
GOPAL SANEKS Technical chart Observations:-~Price Correction:-
The stock corrected around 29%, possibly due to the negative news (fire in a warehouse).
The price appears to be approaching a strong psychological support level at ₹335.
~Pattern Formation:-
A potential Head and Shoulders pattern is visible, signaling a bearish reversal that already played out.
The price dropped significantly post-pattern completion.
~Support Level:-
Key support is around ₹322.80, which is highlighted as the entry point for a possible bounce.
Stop-loss (SL) is marked at ₹304.50 to limit downside risk.
~Target Levels (TP):-
~TP1: ₹362.30
~TP2: ₹386.35
~TP3: ₹430.95
~Volume:-
The trading volume on the recent downtrend is moderate, indicating cautious selling.
~Trend:-
Currently in a downtrend but nearing a critical psychological support zone.
Trading Strategy:
Wait for Confirmation: Enter the trade only if the price shows a clear bounce or reversal signs at the ₹322.80 level.
~Risk-Reward:-
Stop-loss: ₹304.50 (downside ~₹18.30 per share).
Target 1 (TP1): ₹362.30 (upside ~₹39.50).
Risk-reward ratio is favorable if TP1 is achieved.
~Notes:-
This is a counter-trend trade (going against the dominant downtrend), so caution is advised.
Monitor closely for any trend continuation or reversal indicators (e.g., candlestick patterns or volume spikes).
The highlighted targets (TP1-TP3) should be treated as milestones—book partial profits at each.
Final Note:
This chart suggests a well-structured trade setup, but execution depends on confirmation of price action near the support zone. Traders should monitor market sentiment, news updates, and technical signals before entering the trade.
Disclaimer:
I am not a SEBI-registered advisor. These levels are for educational purposes only. Please trade at your own risk. Consult a professional financial advisor for tailored advice. Like and share if you found this helpful!
LIKE,SHARE,SUBSCRIBE Alpha_strike_trader
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.