CMP: ₹65.86
Trend: Strong uptrend in the making — price is forming higher lows and heading towards an important breakout level.
Technical Insights:
✅ Resistance Test: Price is testing a well-entrenched horizontal resistance of ₹66–₹67.
✅ Trendline Support: A strong rising trendline is seen on the hourly chart, reflecting consistent buying pressure as price rises.
✅ Volume Profile (SVP): High accumulated volume at this level, implying significant interest and a probable breakout setup.
✅ Momentum (RSI): RSI at 69.66, close to overbought but still with some room to appreciate further. This shows healthy bullish momentum.
Targets & Stop-Loss:
First Target: ₹70
Second Target: ₹75+ (as anticipated move after the breakout)
Stop-loss: ₹61.3 — positioned below the swing low and key support level to control risk.
Outlook:
If the stock is able to close above ₹66–₹67 with higher volume, it will validate the breakout and open the doors for the expected targets. With the pattern of ascending triangle and current momentum strength, a move towards ₹75+ is very likely.
⚠️ Disclaimer:
This is my own technical analysis. Do your own research and take care of your risk before making any trade.
Trend: Strong uptrend in the making — price is forming higher lows and heading towards an important breakout level.
Technical Insights:
✅ Resistance Test: Price is testing a well-entrenched horizontal resistance of ₹66–₹67.
✅ Trendline Support: A strong rising trendline is seen on the hourly chart, reflecting consistent buying pressure as price rises.
✅ Volume Profile (SVP): High accumulated volume at this level, implying significant interest and a probable breakout setup.
✅ Momentum (RSI): RSI at 69.66, close to overbought but still with some room to appreciate further. This shows healthy bullish momentum.
Targets & Stop-Loss:
First Target: ₹70
Second Target: ₹75+ (as anticipated move after the breakout)
Stop-loss: ₹61.3 — positioned below the swing low and key support level to control risk.
Outlook:
If the stock is able to close above ₹66–₹67 with higher volume, it will validate the breakout and open the doors for the expected targets. With the pattern of ascending triangle and current momentum strength, a move towards ₹75+ is very likely.
⚠️ Disclaimer:
This is my own technical analysis. Do your own research and take care of your risk before making any trade.
Dagangan aktif
Entry: 64.16
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.