LODHA - Symmetrical Triangle Breakout Trade Setup

About Pattern:
A Symmetrical Triangle Pattern is a continuation chart pattern formed when price action creates lower highs and higher lows, converging toward a point. It reflects indecision and compression in price before a breakout occurs. The breakout can be on either side, but here, a bullish breakout has occurred.
Support Line: Formed by connecting the swing lows (green arrows), which are gradually increasing.
Resistance Line: Formed by connecting the swing highs (red arrows), which are gradually decreasing.
This convergence of support and resistance forms the triangle.

Breakout Confirmation
Breakout Level: ₹1420
The stock has clearly broken out above the resistance trendline, indicating a strong bullish signal on the weekly timeframe.

Entry and Stop Loss Strategy
Entry Point:Enter the trade only above ₹1420 after confirmation of breakout. This acts as a psychological and technical barrier.
Stop Loss (SL):Set below ₹1250, which is well below the previous swing lows and triangle support. This acts as a safety net in case of a false breakout or reversal.

Target Calculation – Based on Pattern Height
Pattern Height:
Calculated from the highest swing high inside the triangle to the lowest swing low.
This vertical distance is then added to the breakout point (₹1420) to estimate the price targets.

Target 1: ₹1650+
This is the first resistance zone post-breakout and a psychologically important round number.

Target 2: ₹1850+
Based on the full extension of the pattern height and intermediate resistance zone.

Final Projected Target: ₹2040+
This is the complete projection of the triangle pattern height.

This setup is suitable for:

• Swing traders looking for positional opportunities
  
• Investors seeking breakout confirmation for fresh entries
  
• Trend followers waiting for consolidation breakouts
  

Once price sustains above ₹1420, the stock is expected to follow a bullish trajectory toward ₹1650–2040+ over the coming weeks/months.