GOLD VIEW

 

GOLD VIEW  Based on the current chart structure (Head & Shoulders + resistance trend line), the setup looks more bearish than bullish unless price gives a breakout above the right-shoulder zone.

So here is the clear trade plan:

📌 SELL Setup (Primary Trade Setup) (Valid unless price closes above resistance)

Sell Entry Level 🔻 ₹127,600 – ₹127,950 zone (Price is already testing right-shoulder resistance)

Stop Loss 🛑 ₹128,600 (Above the right shoulder + false breakout cushion)

Targets Target Level Price Zone 🎯 T1 ₹126,500 🎯 T2 ₹125,200 🎯 T3 ₹123,800 🎯 FINAL Target (Pattern Projection)** ₹119,500 – ₹120,200

➡️ Trail SL after ₹126,500 is broken.

📌 BUY Setup (Only If Breakout Happens) (Enter ONLY after candle closes above trendline + resistance)

Buy Entry Level 🟢 ₹128,600+ Breakout Confirmation Candle Close

Stop Loss 🛑 ₹127,400

Targets Target Price Zone 🎯 T1 ₹129,500 🎯 T2 ₹130,800 🎯 T3 ₹132,200 – ₹133,000

📍 Support & Resistance Levels Type Price Major Resistance ₹128,600 – ₹129,200 Secondary Resistance ₹130,800 Support 1 ₹126,500 Support 2 ₹125,200 Key Breakdown Level ₹124,000 (Neckline)

📎 Pivot Levels (Approx.) Level Price Pivot ₹126,900 R1 ₹128,100 R2 ₹129,300 S1 ₹125,800 S2 ₹124,400

🔔 Summary ✔️ Current Best Trade: SELL near ₹127,600–127,950 ✔️ Stop Loss: ₹128,600 ✔️ Targets: ₹126,500 → ₹125,200 → ₹123,800 → ₹120,000 zone

📌 BUY only if breakout above ₹128,600.