Mazda Ltd (NSE: MAZDA): Bullish Breakout and Trade Strategy!

4天前

Mazda Ltd is showing strong potential for further upside after breaking out from a long consolidation zone on the weekly chart. Here's the detailed analysis and trade strategy:

📊 Chart Overview

• Breakout Confirmation: The stock broke out from the ₹1,550–₹1,600 consolidation zone with strong bullish momentum. The breakout was supported by a significant increase in volume, confirming solid buyer participation.
  
• Retest Likely: A pullback to the breakout level of ₹1,600–₹1,650 is expected, providing an ideal entry point for long trades.
  

🎯 Fibonacci Targets

• Breakout Level: ₹1,600 (0% Fibonacci extension).
  
• Target 1: ₹2,150 (61.8% Fibonacci extension).
  
• Target 2: ₹2,450 (100% Fibonacci extension).
  

📈 Trading Strategy
✅ Entry Plan: Wait for a pullback to the ₹1,600–₹1,650 zone, where the breakout level is expected to act as support. Enter on bullish reversal candlestick patterns (e.g., hammer, bullish engulfing) or increased volume near support.

❌ Stop-Loss: Place a stop-loss below ₹1,500, which is both the lower boundary of the breakout zone and a psychological support level.

🔄 Trailing Stop-Loss:
Start with a fixed stop-loss. As the price moves upward, adjust:
₹1,800 after the retest.
₹2,150 as the price nears Target 1.

⚠️ Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your research and consult a professional before making trading decisions.