📊 SAPPHIRE FOODS – Bullish Breakout from Falling Wedge
🕰️ Timeframe: 1D | 📉 Pattern: Falling Wedge Breakout
🔍 Technical Breakdown:
SAPPHIRE has broken out of a well-defined falling wedge pattern — a bullish reversal signal — backed by a sharp move on increased volume.
This wedge has been forming since early February, and the recent breakout above the upper trendline suggests renewed momentum and buying interest.
🔑 Key Technical Levels:
🔵 Resistance Zones (Upside Targets):
₹354.45
₹372.20
₹381.60
🔴 Support Zone:
₹311.15 (previous resistance turned support post-breakout)
⚪ Wedge Support Line: Well-held and now acting as a base for this breakout rally
📊 Volume & Indicator Insights:
🔺 Breakout is supported by a volume surge (300K), indicating institutional or smart money participation.
🔄 RSI at 66.81, nearing overbought territory but still in healthy uptrend range — confirming strength.
📉 RSI signals:
Bullish crossover (around ₹300) confirmed breakout
Prior “Bear” signal in Feb has now reversed to “Bull” (label shown)
🧠 Bias: Strongly Bullish
📍 Retest of ₹311–₹320 zone could offer re-entry opportunity with favorable risk-reward.
⚠️ Disclaimer: This chart is for educational purposes only. Please conduct your own due diligence or consult a professional before investing.
📈 Follow for more breakout pattern setups | PriceAction_Pulse
💬 Share your views on this wedge breakout in the comments!
🕰️ Timeframe: 1D | 📉 Pattern: Falling Wedge Breakout
🔍 Technical Breakdown:
SAPPHIRE has broken out of a well-defined falling wedge pattern — a bullish reversal signal — backed by a sharp move on increased volume.
This wedge has been forming since early February, and the recent breakout above the upper trendline suggests renewed momentum and buying interest.
🔑 Key Technical Levels:
🔵 Resistance Zones (Upside Targets):
₹354.45
₹372.20
₹381.60
🔴 Support Zone:
₹311.15 (previous resistance turned support post-breakout)
⚪ Wedge Support Line: Well-held and now acting as a base for this breakout rally
📊 Volume & Indicator Insights:
🔺 Breakout is supported by a volume surge (300K), indicating institutional or smart money participation.
🔄 RSI at 66.81, nearing overbought territory but still in healthy uptrend range — confirming strength.
📉 RSI signals:
Bullish crossover (around ₹300) confirmed breakout
Prior “Bear” signal in Feb has now reversed to “Bull” (label shown)
🧠 Bias: Strongly Bullish
📍 Retest of ₹311–₹320 zone could offer re-entry opportunity with favorable risk-reward.
⚠️ Disclaimer: This chart is for educational purposes only. Please conduct your own due diligence or consult a professional before investing.
📈 Follow for more breakout pattern setups | PriceAction_Pulse
💬 Share your views on this wedge breakout in the comments!
Trade fermée: ordre d’arrêt atteint
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.