Vardhman Textiles: On the Verge of a Major Breakout!
Vardhman Textiles: On the Verge of a Major Breakout!
Current Market Price: ₹554
Stop Loss: ₹420
Targets: ₹902 | ₹942
Key Highlights:
3-Year Rounding Bottom Formation: Vardhman Textiles is nearing a significant breakout level of ₹576, completing a large 3-year rounding bottom pattern.
Breakout Depth Target: Depth of the rounding bottom is ₹332. Adding this to the breakout point (₹576) gives a target of ₹902.
Fibonacci Extension Target: Aligns at ₹942, strengthening the potential for extended upside.
Key Levels: Sustained movement above ₹576 will confirm the breakout and signal a major upward move.
Strategy:
Preemptive Entry: Start building positions gradually to capture early gains.
Wait for Confirmation: Larger positions should be added after a decisive breakout above ₹576.
Risk Management: Maintain a strict stop loss at ₹420 to protect against downside risk.
📈 Outlook: Vardhman Textiles is showing robust potential for a breakout, with long-term chart patterns and Fibonacci levels aligning to support the bullish view. If confirmed, this move could result in a substantial rally toward ₹900+ levels.
📉 Disclaimer: As a non-SEBI registered analyst, I recommend conducting thorough research or seeking advice from financial professionals before making investment decisions.
#VardhmanTextiles #TechnicalAnalysis #BreakoutTrade #RoundingBottom #StockMarket #InvestmentOpportunities #TradingIdeas
Current Market Price: ₹554
Stop Loss: ₹420
Targets: ₹902 | ₹942
Key Highlights:
3-Year Rounding Bottom Formation: Vardhman Textiles is nearing a significant breakout level of ₹576, completing a large 3-year rounding bottom pattern.
Breakout Depth Target: Depth of the rounding bottom is ₹332. Adding this to the breakout point (₹576) gives a target of ₹902.
Fibonacci Extension Target: Aligns at ₹942, strengthening the potential for extended upside.
Key Levels: Sustained movement above ₹576 will confirm the breakout and signal a major upward move.
Strategy:
Preemptive Entry: Start building positions gradually to capture early gains.
Wait for Confirmation: Larger positions should be added after a decisive breakout above ₹576.
Risk Management: Maintain a strict stop loss at ₹420 to protect against downside risk.
📈 Outlook: Vardhman Textiles is showing robust potential for a breakout, with long-term chart patterns and Fibonacci levels aligning to support the bullish view. If confirmed, this move could result in a substantial rally toward ₹900+ levels.
📉 Disclaimer: As a non-SEBI registered analyst, I recommend conducting thorough research or seeking advice from financial professionals before making investment decisions.
#VardhmanTextiles #TechnicalAnalysis #BreakoutTrade #RoundingBottom #StockMarket #InvestmentOpportunities #TradingIdeas
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.
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.