Current Price: ₹821.30 (+5.59%)
Trend: The stock has been trading within a falling channel since June, indicating a bearish structure.
Key Development:
A strong bullish breakout candle today, breaking above the mid-channel resistance and approaching the upper trend line of the channel.
Resistance Levels:
Primary Resistance: ₹826.50 – ₹830.75
Next target in case of breakout: ₹850 – ₹865 (previous swing highs).
Support Levels:
Immediate Support: ₹780 – ₹790 zone
Strong support near ₹765 – ₹770.
Price Target (on confirmed breakout):
Short-term target: ₹850 – ₹865.
Conservative target: ₹835 – ₹840 if momentum slows near resistance.
Risk Management:
Place stop-loss below ₹780 to protect against false breakouts.
Monitor volume: Higher volume on the breakout strengthens validity.
If the stock fails to sustain above ₹830, expect consolidation or a potential retest of lower support.
⚠️ Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice or a recommendation to buy or sell any security. Investors should conduct their own research or consult a qualified financial advisor before making investment decisions. Market conditions can change rapidly, and past performance is not indicative of future results.
Trend: The stock has been trading within a falling channel since June, indicating a bearish structure.
Key Development:
A strong bullish breakout candle today, breaking above the mid-channel resistance and approaching the upper trend line of the channel.
Resistance Levels:
Primary Resistance: ₹826.50 – ₹830.75
Next target in case of breakout: ₹850 – ₹865 (previous swing highs).
Support Levels:
Immediate Support: ₹780 – ₹790 zone
Strong support near ₹765 – ₹770.
Price Target (on confirmed breakout):
Short-term target: ₹850 – ₹865.
Conservative target: ₹835 – ₹840 if momentum slows near resistance.
Risk Management:
Place stop-loss below ₹780 to protect against false breakouts.
Monitor volume: Higher volume on the breakout strengthens validity.
If the stock fails to sustain above ₹830, expect consolidation or a potential retest of lower support.
⚠️ Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice or a recommendation to buy or sell any security. Investors should conduct their own research or consult a qualified financial advisor before making investment decisions. Market conditions can change rapidly, and past performance is not indicative of future results.
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.
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.