📉 IREDA remained under selling pressure through much of the session and gradually moved below the ₹108.13 VRZ Low. ⚠️ The breakdown created the possibility of a bullish BOF reversal if buyers could reclaim the key zone. 🔎 However, price struggled to regain sustained acceptance above ₹108.13, keeping the intraday structure weak.
🔻 After breaking below ₹108.13, price continued to form lower levels and remained beneath the reversal zone. 🧱 A recovery attempt around the afternoon session briefly pushed price back toward the VRZ Low, but buyers could not sustain the move. 📉 The inability to establish acceptance above the zone kept the bearish structure active.
🎯 The bullish BOF required a decisive reclaim of ₹108.13 followed by sustained trading above the VRZ Low. 🚫 Although price briefly recovered above the level, the reclaim did not hold. 🔴 Sellers quickly regained control and pushed price lower, invalidating the bullish reversal thesis.
🟢 Buyers showed a short burst of momentum during the recovery attempt near ₹108.30. ⚠️ However, the bullish move lacked follow-through and was followed by consecutive bearish candles. 📉 Momentum shifted back toward sellers, with price eventually falling toward ₹107.33 by the end of the session.
🎯 The bullish BOF required reclaim + sustained acceptance above ₹108.13. 🚫 Although price approached and briefly moved around the zone, the recovery lacked confirmation. ⚠️ Entering aggressively without sustained acceptance would have exposed the trade to another downside move. 🧭 Waiting for stronger bullish follow-through would have provided better setup validation.
🔒 A temporary move above a VRZ level does not automatically confirm a successful BOF. 👀 Traders need to see whether buyers can hold the reclaimed zone. 🛑 When the reclaim fails and price falls back below the level, the bullish thesis should be reassessed immediately. 📊 Respecting this invalidation condition helps limit unnecessary downside exposure.
🧩 The afternoon recovery could easily create the impression that the bullish reversal was finally developing. ⚠️ But the subsequent rejection showed why traders should not confuse a test of the VRZ Low with confirmed acceptance. 🧠 The key focus should remain on what price does after the reclaim—not simply whether it touches or briefly crosses the level.
📍 ₹108.13 remained the critical decision level for this IREDA setup. 🟢 Buyers attempted to recover the zone, but 🔻 sellers quickly rejected the move and pushed price lower. 🎯 The setup demonstrates the importance of waiting for sustained reclaim and bullish follow-through before validating a bullish BOF.
