NOCIL, trading @ 200 on NSE/BSE
it may reach firstly @ 235, where it had formed a gap when it was falling downwards. 235 may act as a strong resistance as it traded around this level in FEB 2025.
it may also scale towards 300 plus levels since high volume buying candle is formed on 31 july 2024 around 320 levels , note that buying volume is considered a major signal for upside move.
factors supporting the same :
1- around 185-195, it has formed major buying volume candles (DAILY TIMEFRAME) which suggests follow-up upmove may continue
2- 198 which was acting as resistance SINCE MARCH 2025 is broken successfully , making highs @ 208, and closing at 200
3- technical indicators are also supporting the same analysis as RSI is at 64, trading above its own moving avg . MACD is trading above zero level and above signal line
4- price is trading at the upper range of the 15 day donchian channel , suggesting range breakout.
buying is suggested between 185-205 levels , keeping stoploss @ 175 for targets of 235 and may be 300 if markets sustain upward strength for coming months.
it may reach firstly @ 235, where it had formed a gap when it was falling downwards. 235 may act as a strong resistance as it traded around this level in FEB 2025.
it may also scale towards 300 plus levels since high volume buying candle is formed on 31 july 2024 around 320 levels , note that buying volume is considered a major signal for upside move.
factors supporting the same :
1- around 185-195, it has formed major buying volume candles (DAILY TIMEFRAME) which suggests follow-up upmove may continue
2- 198 which was acting as resistance SINCE MARCH 2025 is broken successfully , making highs @ 208, and closing at 200
3- technical indicators are also supporting the same analysis as RSI is at 64, trading above its own moving avg . MACD is trading above zero level and above signal line
4- price is trading at the upper range of the 15 day donchian channel , suggesting range breakout.
buying is suggested between 185-205 levels , keeping stoploss @ 175 for targets of 235 and may be 300 if markets sustain upward strength for coming months.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.