1. Price Pattern:
- A potential Cup and Handle formation is visible, which indicates a bullish continuation pattern.
- The price has tested key resistance levels and is currently consolidating within the trendline boundaries.
2. Support and Resistance:
- Key resistance levels: ₹1305, ₹1320 and ₹1485.30.
- Immediate support levels: ₹1210.70 and ₹1072.30.
- Broader support at ₹940.45, acting as a critical long-term demand zone.
3. Trendlines and Moving Averages:
- The chart shows a descending channel, providing both resistance and support zones.
- Key moving averages (20-day, 50-day, and 200-day) suggest a mixed trend, with the price hovering near the 20-day MA.
4. Trade Setup:
- A breakout above ₹1305 could signal a bullish rally toward higher resistance levels.
- Conversely, a breakdown below ₹1210 could lead to further downside toward ₹1072 or ₹940.
- A potential Cup and Handle formation is visible, which indicates a bullish continuation pattern.
- The price has tested key resistance levels and is currently consolidating within the trendline boundaries.
2. Support and Resistance:
- Key resistance levels: ₹1305, ₹1320 and ₹1485.30.
- Immediate support levels: ₹1210.70 and ₹1072.30.
- Broader support at ₹940.45, acting as a critical long-term demand zone.
3. Trendlines and Moving Averages:
- The chart shows a descending channel, providing both resistance and support zones.
- Key moving averages (20-day, 50-day, and 200-day) suggest a mixed trend, with the price hovering near the 20-day MA.
4. Trade Setup:
- A breakout above ₹1305 could signal a bullish rally toward higher resistance levels.
- Conversely, a breakdown below ₹1210 could lead to further downside toward ₹1072 or ₹940.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.