Prestige Estates: Weekly Trendline Breakout | Buy Setup 1,745

BUY Setup 🏢
Entry: ₹1,737-1,745 (Current Level)
Target 1: ₹1,800-1,820
Target 2: ₹1,880-1,900
Target 3: ₹1,950-2,000 (Extended)
Stop Loss: ₹1,680

Technical Rationale:

Breaking above long-term descending trendline (from 2024 highs)
Price at critical resistance zone - potential breakout imminent
Weekly chart showing bullish momentum with +1.81% gain
Testing 1,745 resistance level - last major hurdle before rally
Strong support base at 1,000-1,200 zone visible
RSI around 65 on weekly - healthy momentum
Volume at 1.21M showing institutional interest
Real estate sector showing renewed strength
Multiple touches on trendline indicating strong resistance turned support

Risk-Reward: Strong 1:4+ ratio
Pattern: Descending channel breakout on weekly timeframe - highly reliable bullish signal
Strategy: Positional/swing trade - Book 30% at T1 (1,810), 30% at T2 (1,890), trail remaining with SL at 1,750 after T1 achieved
Key Levels:

Critical Resistance: 1,745-1,750 (breakout zone)
Support: 1,680, 1,620, 1,550

Timeframe: Weekly chart suggests this is a medium-term positional opportunity