⚡ Breakout & Retest – A Classic Price Action Setup!

Technical Snapshot: Breakout Zone: ₹1,346.95 was a strong horizontal resistance, now acting as support after the breakout. Retest Confirmation: Price pulled back to the ₹1,384 zone (near 20-week EMA) and bounced, showing buyer interest. Trend Shift: Higher highs and higher lows forming after months of sideways consolidation. Upside Potential: Next resistance sits around ₹1,581.90 (200-week MA). Sustained momentum above this could open the path to ₹1,650+. Why This Matters: This is a textbook breakout + retest scenario where the old resistance becomes new support, strengthening the case for trend continuation. 📌 Learning Note: When a stock breaks a major resistance and successfully retests it, the probability of follow-through increases—especially if supported by rising volumes and macro tailwinds in the sector.