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ionexchange - darwas box breakout

ION EXCHANGE (INDIA) LTD - 1W NSE
Symbol: IONEXCHANG
Current Price: 723.80
Change: +27.10 (+3.89%)

Technical Analysis:

IONEXCHANG is showing a classic Darvas Box breakout setup! After consolidating within a defined range, the price is now breaking out above the box's upper boundary with strong volume. This indicates a potential for a significant upward move.

Trade Setup:

Entry: Enter long on a breakout above the resistance level at 723.80.
Stop Loss: Place your stop loss below the support level at 696.20.
Target: The estimated target for this trade is 767.85.

Possible Scenario:

Bullish: A strong breakout above the resistance with increasing volume could lead to a rapid move towards the target.
Bearish: Failure to break out or a close back inside the box could invalidate the pattern.
Disclaimer: This is not financial advice. Please do your own research before investing in any stock.

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