Key Price Levels
- Close: 24,761.10
- High: 24,775.40
- Low: 24,745.45
- Change: +8.55 (+0.03%)
โ Positive Indicators
- Strong recovery from the 24,550 zone seen on June 4 and continued bullish momentum into June 5.
- Sharp breakout candle on June 5 around 11:00 AM, suggesting bulls regaining strength.
- Currently consolidating just below resistance, indicating bullish accumulation.
๐ Support Zones
| Level | Reason |
|---|---|
| 24,700 | Immediate support near previous close |
| 24,650 | Former resistance now flipped as support |
| 24,550 | Key swing low support |
โ Trading Strategy: Support-Resistance Breakout + Pullback
1. Bullish Breakout Plan
Scenario: Price breaks and sustains above 24,800
- ๐ Entry: Above 24,805 on a 15-min candle close with volume confirmation
- ๐ฏ Targets:
- First Target: 24,880
- Final Target: 24,900
- ๐ Stop Loss: Below 24,770
- ๐ Optional Add-on: Buy on pullback to 24,800 if price retests with bullish candle
2. Bearish Breakdown Plan
Scenario: Price breaks and sustains below 24,700
- ๐ Entry: Below 24,695 on a 15-min candle close
- ๐ฏ Targets:
- First Target: 24,650
- Final Target: 24,620
- ๐ Stop Loss: Above 24,725
- ๐ Optional Add-on: Sell on bounce back to 24,700 with rejection candle
3. Range-Bound Trade Setup
Scenario: Price remains between 24,700 and 24,800
- ๐จ Buy near support: 24,700โ24,710 with SL below 24,680 and target 24,780+
- ๐ฅ Sell near resistance: 24,790โ24,800 with SL above 24,820 and target 24,710+
๐ ๏ธ Pro Tips:
- Use indicators like Volume, RSI (50 breakout) or VWAP to confirm entries.
- Avoid trading during flat consolidation or lunch hours unless breakout occurs.
- Follow risk-reward ratio of at least 1:2.
- Trail SL once your first target hits.
