Currency Grow (CA & SEBI Reg IA Omkar Bhutada) · 6th May
This is a clean and powerful setup on Cords Cable — and your marking is actually quite accurate. Let’s break it down like a pro trader:
CORDSCABLE
🔍 Structure Breakdown (Weekly Chart)
1. Accumulation / Range Phase
Price was stuck in a broad consolidation box (~140–210 zone) for a long time
Multiple fake breakouts & rejections → classic smart money absorption phase
Volumes were inconsistent → indicates retail frustration + operator accumulation
2. Current Move = Breakout Attempt
Strong bullish candle closing near highs
Price is now testing the upper boundary (~205–210 zone)
This level has acted as:
Resistance multiple times in the past
Supply zone → now being challenged
📈 What’s Important NOW
✅ Bullish Case (High Probability Scenario)
If price:
Sustains above 205–210
Gives a weekly close above resistance
👉 Then this becomes a range breakout
🎯 Targets:
Immediate: 230–240
Swing: 260+
Your arrow projection is realistic
❌ Bearish Case (Trap Scenario)
If:
Breakout fails
Price comes back inside the box
👉 Then it becomes a fake breakout / liquidity grab
Downside levels:
180
160 (range mid)
🧠 Smart Money Interpretation
This chart shows:
Long accumulation ✔️
Volatility contraction ✔️
Expansion starting ✔️
👉 This is exactly how multi-bagger structures begin — but only after confirmation.