Current Situation:
Trading at ₨683.15, up 6.74%, showing recovery from recent lows but still in a downtrend.
Key Observations:
Trend: Clear downtrend from the 1,160+ peak. The stock has been making lower highs and lower lows since mid-2024
Recent Action: Sharp selloff from 925 resistance zone, found support around 595-605 (blue zone) and now bouncing
Support Zones:
Immediate: 645-655 (current consolidation)
Strong: 595-605 (blue zone - recent low, tested and held)
Major: 565-575 and 505-515 (deeper demand zones)
Resistance Zones:
Immediate: 735-765 (brown zone)
Major: 875-925 (upper brown zone - previous breakdown area)
Volume: Low volume on recent bounce suggests weak buying conviction
Buying Levels:
Best Entry: 595-610 if price retests the recent low with bullish reversal (hammer/engulfing pattern)
Current Risk: 670-680 - risky as it's mid-range; needs confirmation above 700
Breakout Play: Above 740 with volume confirms strength toward 765-800
Caution: The overall structure remains bearish. Any entry should have tight stop-loss below 590.
Targets: 735-765 (short-term), 800+ if momentum builds.
Trading at ₨683.15, up 6.74%, showing recovery from recent lows but still in a downtrend.
Key Observations:
Trend: Clear downtrend from the 1,160+ peak. The stock has been making lower highs and lower lows since mid-2024
Recent Action: Sharp selloff from 925 resistance zone, found support around 595-605 (blue zone) and now bouncing
Support Zones:
Immediate: 645-655 (current consolidation)
Strong: 595-605 (blue zone - recent low, tested and held)
Major: 565-575 and 505-515 (deeper demand zones)
Resistance Zones:
Immediate: 735-765 (brown zone)
Major: 875-925 (upper brown zone - previous breakdown area)
Volume: Low volume on recent bounce suggests weak buying conviction
Buying Levels:
Best Entry: 595-610 if price retests the recent low with bullish reversal (hammer/engulfing pattern)
Current Risk: 670-680 - risky as it's mid-range; needs confirmation above 700
Breakout Play: Above 740 with volume confirms strength toward 765-800
Caution: The overall structure remains bearish. Any entry should have tight stop-loss below 590.
Targets: 735-765 (short-term), 800+ if momentum builds.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.