SCI 230, POSSIBLY LOOKING FOR A TURN BACK TO 250+
Shipping Corporation of India (SCI) has shown a potential breakout on the daily time frame as it surpasses the ₹230 level. This price point previously acted as a resistance, and the breakout indicates bullish momentum, supported by increased trading volume. Analysts suggest further upside if the stock sustains above this level, with key targets around ₹245 and ₹260. However, if it falls below ₹230, a retest of ₹220 is possible.
Technical Highlights:
1. Momentum Indicators: RSI is near 50, showing room for further movement.
2. Trend Confirmation: Sustained closing above ₹230 strengthens the bullish trend.
3. Support Zone: ₹220 serves as immediate support.
Statutory Warning:
Trading and investing in stocks are subject to market risks. This is not investment advice. Always do your own research (DYOR) or consult a certified financial advisor before making decisions.
Technical Highlights:
1. Momentum Indicators: RSI is near 50, showing room for further movement.
2. Trend Confirmation: Sustained closing above ₹230 strengthens the bullish trend.
3. Support Zone: ₹220 serves as immediate support.
Statutory Warning:
Trading and investing in stocks are subject to market risks. This is not investment advice. Always do your own research (DYOR) or consult a certified financial advisor before making decisions.
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