Poonawalla Fincorp has shown a significant bullish development, decisively breaking out of a Triangle continuation pattern today. This breakout was marked by a substantial 12.30% surge in price, backed by exceptionally high trading volume.
This move signals a potential continuation of the bullish run that began in March 2025, which itself was a reversal of a downtrend initiated by a Double-Top bearish pattern in April 2024.
Bullish Confirmation Signals 👍
The positive outlook is supported by several key indicators:
- Breakout Volume: The price surge was accompanied by a massive spike in volume, indicating strong conviction and participation from buyers.
- Momentum: Short-term Exponential Moving Averages (EMAs) have formed a positive crossover, confirming the renewed bullish momentum in the immediate term.
Immediate Hurdle Ahead 🚧
Despite the strong breakout, the stock is now trading at a crucial long-term resistance level. Overcoming this barrier is essential for the upward trend to continue.
Future Outlook and Scenarios
- Bullish Case 📈: If the upward momentum is sustained and the stock successfully breaks through the current long-term resistance, it could clear the path to test its all-time high. An initial price target in this scenario would be the ₹539 level.
- Bearish Case 📉: Conversely, if the stock fails to breach this resistance, the momentum could fade, potentially leading to a price correction towards the ₹427 support level.
Watchout for the price-action in the next few sessions !!
This move signals a potential continuation of the bullish run that began in March 2025, which itself was a reversal of a downtrend initiated by a Double-Top bearish pattern in April 2024.
Bullish Confirmation Signals 👍
The positive outlook is supported by several key indicators:
- Breakout Volume: The price surge was accompanied by a massive spike in volume, indicating strong conviction and participation from buyers.
- Momentum: Short-term Exponential Moving Averages (EMAs) have formed a positive crossover, confirming the renewed bullish momentum in the immediate term.
Immediate Hurdle Ahead 🚧
Despite the strong breakout, the stock is now trading at a crucial long-term resistance level. Overcoming this barrier is essential for the upward trend to continue.
Future Outlook and Scenarios
- Bullish Case 📈: If the upward momentum is sustained and the stock successfully breaks through the current long-term resistance, it could clear the path to test its all-time high. An initial price target in this scenario would be the ₹539 level.
- Bearish Case 📉: Conversely, if the stock fails to breach this resistance, the momentum could fade, potentially leading to a price correction towards the ₹427 support level.
Watchout for the price-action in the next few sessions !!
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
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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.
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
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.