Gandhar oilGANDHAR OIL REFINE IND LNSE:GANDHARDEVA435 Gandhar Oil Refinery (Weekly Chart Setup)** **Observation:** The stock has recently crossed back above its **IPO price of ₹169** with strong volume. It is also trading above the **20-week SMA (₹162)**, showing strength and possible trend reversal from the bottom. The recent green candles with volume suggest accumulation and possible VCP breakout. --- ### **Simple Trading Plan** 🔹 **Pattern:** VCP (Volatility Contraction Pattern) 🔹 **Setup:** Strong breakout above IPO price (₹169) after a long base 🔹 **Timeframe:** Weekly 🔹 **Entry:** ₹172 – ₹175 zone (current price) 🔹 **Stop Loss (SL):** ₹160 (below moving average and base support) 🔹 **Target 1:** ₹205 🔹 **Target 2:** ₹235 🔹 **Risk-Reward:** 1 : 2 (Good setup for swing trade) --- ### **Why this setup is good?** * Price reclaimed IPO level after long consolidation * Volume is rising with price – sign of strong buyers * Stock is trending above key moving average (20-week SMA) * SL is tight below base and moving average – helps control risk --- *Risk Management Only buy if stock stays above ₹169 with good volume. If it breaks down below ₹160, exit the trade without hesitation.