NETWORK18 Breakout

🧾 Chart Analysis Summary (Daily Timeframe)
Key Details Value
📈 CMP ₹63.14
🔺 Daily Gain +₹7.43 (+13.34%)
📊 Volume 318.44M (very strong volume)
🧱 Pattern ABC corrective structure + triangle breakout
📐 Setup Type Breakout + Pullback + Entry

🔍 Technical Analysis Insights
🟢 Bullish Structure
🔼 ABC Correction: Chart shows A-B-C correction forming a falling wedge/triangle.

✅ Breakout Confirmed: A strong bullish candle broke the range with high volume, confirming breakout.

🔄 Retest Entry Area: Entry zone is marked between ₹61–₹63 — current price is near the ideal buying zone.

🧱 Support Trendline: Strong diagonal support is visible; price is above it.

📦 Volume Spike
The huge green candle breakout has volume > 3x recent average, indicating strong buyer interest.

🎯 Trade Setup Parameters
Element Level / Note
🛒 Entry ₹61–₹63 (CMP is inside entry zone)
🛑 Stop Loss ₹58 (below breakout structure)
🎯 Target 1 (1.5x) ₹71–₹72 (around 13.35% up)
🧱 Target 2 ₹77–₹80 (next resistance zone)
⚖️ Risk:Reward 1:1.5+

💡 Observations
✅ Volume + Breakout + Retest = High Probability Trade.

⚠️ Monitor for consolidation between ₹64–₹67 before momentum resumes.

📌 Trail stop loss or partial booking advised near first target.

📝 Conclusion
This is a textbook breakout-retest-buy setup with:

Strong structure

Clear SL & target

Volume confirmation

Risk:Reward in favor