ALLCARGO LOGISTICS LTD – Breakout in Progress | Target ₹38.16

Analysis & Trade Setup:

ALLCARGO is showing a strong bullish structure on the 1H timeframe, forming higher highs and higher lows consistently. After a recent correction, the price has resumed its upward movement and is now heading toward the key resistance level of ₹38.16, as marked on the chart.

The bullish impulse is supported by a healthy retracement followed by a strong bounce, suggesting buyers are stepping in around the ₹32–₹33 zone.

Trade Plan:

Entry: Around ₹35.00–₹35.20 (current price region)

Target: ₹38.16 (as per previous swing high and resistance level)

Stop Loss: Below ₹33.00 (below recent higher low)

Risk–Reward Ratio: Approx. 1:1.5

Reasoning: This setup follows a simple breakout and retest strategy. If momentum sustains, we may see a breakout above ₹38.16 leading to a potential continuation rally. Keep an eye on volume confirmation near resistance.

Note: This is a short-term swing idea based on the 1H chart. Please manage risk accordingly and follow your trading plan.