📊 COLPAL (1D) – Falling Wedge Breakout with Orderblock Retest
Colgate-Palmolive (India) has been in a steady downtrend for months, but recent price action suggests a shift in market structure. After forming a Falling Wedge, the stock has now broken out to the upside, a classic bullish reversal pattern.
🔎 Observations
Falling Wedge Formation: Price compressed within the wedge since Oct 2024, with lower highs and lower lows gradually converging. This usually signals weakening seller momentum.
Breakout Confirmation: A strong bullish candle pushed above the wedge resistance, confirming the breakout.
Orderblock Support: The last bullish orderblock around ₹2,250–₹2,180 has acted as demand, rejecting price higher on retest. This adds confluence to the bullish setup.
Volume Analysis: Breakout was supported by an increase in volume, showing institutional participation.
Market Structure: The first higher low is now in place. If price makes a higher high above ₹2,400, it would further confirm a potential trend reversal.
📈 Trading Plan & Targets
Entry Zone: CMP
Stop Loss: Below 2,150 (orderblock invalidation)
Target 1: 2,700 (first resistance zone)
Target 2: 3,075 (major psychological + structural resistance)
⚠️ Risk Management:
Since the stop loss is relatively small compared to upside targets, this setup offers a favorable Risk:Reward ratio of ~1:3 to 1:4. However, always scale positions responsibly to control risk.
📌 Invalidation Levels:
If the stock sustains below 2,150, the bullish thesis will be invalidated, and the trend may continue sideways or resume downward.
🔥 Summary
COLPAL has shown a textbook breakout from a Falling Wedge pattern, retested its bullish orderblock, and bounced with volume confirmation. This indicates that long positions can be considered as long as ₹2,150 holds. Upside targets of ₹2,700 and ₹3,075+ remain in play.
Colgate-Palmolive (India) has been in a steady downtrend for months, but recent price action suggests a shift in market structure. After forming a Falling Wedge, the stock has now broken out to the upside, a classic bullish reversal pattern.
🔎 Observations
Falling Wedge Formation: Price compressed within the wedge since Oct 2024, with lower highs and lower lows gradually converging. This usually signals weakening seller momentum.
Breakout Confirmation: A strong bullish candle pushed above the wedge resistance, confirming the breakout.
Orderblock Support: The last bullish orderblock around ₹2,250–₹2,180 has acted as demand, rejecting price higher on retest. This adds confluence to the bullish setup.
Volume Analysis: Breakout was supported by an increase in volume, showing institutional participation.
Market Structure: The first higher low is now in place. If price makes a higher high above ₹2,400, it would further confirm a potential trend reversal.
📈 Trading Plan & Targets
Entry Zone: CMP
Stop Loss: Below 2,150 (orderblock invalidation)
Target 1: 2,700 (first resistance zone)
Target 2: 3,075 (major psychological + structural resistance)
⚠️ Risk Management:
Since the stop loss is relatively small compared to upside targets, this setup offers a favorable Risk:Reward ratio of ~1:3 to 1:4. However, always scale positions responsibly to control risk.
📌 Invalidation Levels:
If the stock sustains below 2,150, the bullish thesis will be invalidated, and the trend may continue sideways or resume downward.
🔥 Summary
COLPAL has shown a textbook breakout from a Falling Wedge pattern, retested its bullish orderblock, and bounced with volume confirmation. This indicates that long positions can be considered as long as ₹2,150 holds. Upside targets of ₹2,700 and ₹3,075+ remain in play.
注释
moving up 3330 to 2410
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