ABDL - Daily Timeframe Breakout Idea (Resistance Zone Break)

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Allied Blenders and Distillers Ltd. has shown a breakout above a key horizontal resistance level on the daily chart, accompanied by a nearly 2 times volume surge near the breakout zone, as seen earlier, supported by strong momentum.

🔍 Breakout Context:
- Price might break above the ~₹446 horizontal resistance, which had held for over 6 months.
The breakout zone has been supported by 2X volume and a range 1.5X of average near the resistance zone.
- The price is also trading above both the 50- and 100-day SMAs, indicating strong trend continuation.
- This aligns with a bullish continuation setup.

📉 Trade Plan:
- CMP: ₹439.15
- Entry: Near ₹446
- Target: ₹481 (~7.5% upside from CMP)
- Stop-Loss: ₹430
- Risk-Reward Ratio: ~ 1 : 2

📌 Note:
- Look for a confirmation candle to enter the trade.
- Avoid chasing the extended move unless confident in intraday momentum.

⚠️ Disclaimer: This post is for educational purposes only and not financial advice. Always do your research or consult a financial advisor before trading.
Trade ist aktiv
Trade is ON.
Our Entry was triggered on Friday, and we achieved 2R in just one day.
I'm trailing my SL to 445 on a closing basis

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