KFin Technologies – Channel Breakout Setup (Daily Chart)
After trading inside a falling channel for several weeks, the stock is now attempting a strong breakout above the upper trendline resistance near ₹1,080–₹1,090 zone.
🔎 Technical Observations:
Clear descending channel pattern
Strong bullish candle near resistance
Volume expansion on breakout attempt
Price reclaiming short-term moving averages
RSI moving above 50 → momentum building
MACD showing bullish crossover
🔑 Key Levels to Watch:
Immediate Resistance: ₹1,090
Breakout Confirmation: Sustained close above ₹1,100
Immediate Support: ₹1,030
Strong Support: ₹1,000
🚀 On confirmed breakout above ₹1,100, potential upside targets:
₹1,200
₹1,300
₹1,400 (as projected move)
Structure suggests early reversal from downtrend. Follow-through above resistance is crucial.
⚠️ Invalidation below ₹1,000 on daily closing basis.
For educational purposes only. Not a buy/sell recommendation.
— AALGO BREATHS