Analysis & Trade Setup:
ALLCARGO is showing a strong bullish structure on the 1H timeframe, forming higher highs and higher lows consistently. After a recent correction, the price has resumed its upward movement and is now heading toward the key resistance level of ₹38.16, as marked on the chart.
The bullish impulse is supported by a healthy retracement followed by a strong bounce, suggesting buyers are stepping in around the ₹32–₹33 zone.
Trade Plan:
Entry: Around ₹35.00–₹35.20 (current price region)
Target: ₹38.16 (as per previous swing high and resistance level)
Stop Loss: Below ₹33.00 (below recent higher low)
Risk–Reward Ratio: Approx. 1:1.5
Reasoning: This setup follows a simple breakout and retest strategy. If momentum sustains, we may see a breakout above ₹38.16 leading to a potential continuation rally. Keep an eye on volume confirmation near resistance.
Note: This is a short-term swing idea based on the 1H chart. Please manage risk accordingly and follow your trading plan.
ALLCARGO is showing a strong bullish structure on the 1H timeframe, forming higher highs and higher lows consistently. After a recent correction, the price has resumed its upward movement and is now heading toward the key resistance level of ₹38.16, as marked on the chart.
The bullish impulse is supported by a healthy retracement followed by a strong bounce, suggesting buyers are stepping in around the ₹32–₹33 zone.
Trade Plan:
Entry: Around ₹35.00–₹35.20 (current price region)
Target: ₹38.16 (as per previous swing high and resistance level)
Stop Loss: Below ₹33.00 (below recent higher low)
Risk–Reward Ratio: Approx. 1:1.5
Reasoning: This setup follows a simple breakout and retest strategy. If momentum sustains, we may see a breakout above ₹38.16 leading to a potential continuation rally. Keep an eye on volume confirmation near resistance.
Note: This is a short-term swing idea based on the 1H chart. Please manage risk accordingly and follow your trading plan.
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