Crompton Weekly Breakout Setup | Targeting ₹475 via Inverted H&S

6 ก.ค.

Crompton is forming a classic Inverted Head & Shoulder pattern on the weekly timeframe, a reliable bullish reversal signal. The breakout zone lies around ₹357.55, which is the neckline and previous resistance.

Once the price sustains above this zone, we may witness a rally inside the ascending parallel channel, with clearly defined Fibonacci targets.

Key Technical Highlights:

Pattern: Inverted Head & Shoulders

Breakout Zone: ₹357.55

Channel Resistance: Aligns near final targets

Trend Structure: Higher lows formation post bottoming out

Target Projections:

Target 1: ₹387

Target 2: ₹403

Target 3: ₹417

Extended Target: ₹445

Final Target: ₹475 (long-term resistance / falling trendline)

Risk Management:

Entry: On breakout and close above ₹357.55

Stop Loss: Below ₹345 or ₹336 support zone

Invalidation: If closes below ₹317.85

Conclusion:
The setup suggests bullish momentum once the neckline is cleared. Volumes around the resistance zone should be monitored. Ideal for positional swing traders.

Disclaimer:
This is a technical analysis view for educational purposes only. Please consult your financial advisor before investing or trading.

16 ก.ค.

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