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Genus Power Infra: Bullish Breakout โ€“ Buy now for higher targets

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๐Ÿ” Technical Analysis: GENUSPOWER (NSE: GENUSPOWER)

1๏ธโƒฃ Overview:

๐Ÿ“ˆ Current Market Price (CMP): โ‚น430.15 (+2.26%)
๐Ÿ—“๏ธ Date & Time: As of 15:25 (UTC+5:30)
๐Ÿ•น๏ธ Chart Analysis: Daily (1D)

2๏ธโƒฃ Technical Indicators Overview:

๐Ÿ“Š Moving Averages:
๐ŸŸข 50-Day EMA: โ‚น399.89, currently acting as a support zone.
๐Ÿ”ต 200-Day EMA: โ‚น332.71, indicating the longer-term trend remains positive.

๐Ÿ“ฆ Volume Profile: Strong demand visible between โ‚น360-โ‚น380, suggesting robust buying interest at lower levels.

๐Ÿ“ˆ MACD: Bullish crossover with the MACD line above the signal line, implying momentum is still positive.

MACD Line: 3.76
Signal Line: 1.04
Histogram: ๐Ÿ“ˆ Positive, indicating rising momentum.

๐Ÿ“‰ Williams %R (14): At -5.59, signaling overbought conditions, which might result in a short-term pullback.

๐Ÿ’น Stochastic RSI (14, 3): At 100, indicating strong bullish momentum, though caution is advised as overbought zones can precede minor corrections.

๐ŸŸฃ Parabolic SAR: Positioned below the price, supporting the ongoing uptrend.

3๏ธโƒฃ Fibonacci Retracement Levels:

The stock is retracing from the swing high of โ‚น451.55 to the swing low of โ‚น351.05.
๐Ÿ“ 38.2% Retracement: โ‚น399.30 โ€“ Strong support.
๐Ÿ“ 50% Retracement: โ‚น414.05 โ€“ Intermediate resistance.
๐Ÿ“ 61.8% Retracement: โ‚น428.80 โ€“ Currently breached, signaling bullish strength.
๐Ÿ“ 78.6% Retracement: โ‚น442.80 โ€“ Next resistance level to watch.

4๏ธโƒฃ Rationale for Buy:

๐Ÿš€ Breakout above 61.8% Fibonacci Level: The breach above โ‚น428.80 indicates a potential continuation of the upward move.

๐Ÿ”ฅ Bullish Momentum: MACD crossover, Stochastic RSI in overbought territory, and Parabolic SAR below the price all point to a continuation of the bullish trend.

๐Ÿ“ˆ Volume Surge: Increased volume activity supports the bullish move, suggesting robust buying interest.

๐Ÿ“ฆ Demand Zone: The significant demand between โ‚น360-โ‚น380 acts as a strong base, providing a good risk-reward opportunity for entry.

5๏ธโƒฃ Recommendation:

๐Ÿ”” Action: Buy
๐ŸŽฏ Target 1: โ‚น442.80 (78.6% Fibonacci Level)
๐ŸŽฏ Target 2: โ‚น451.55 (Recent Swing High)
๐Ÿ›‘ Stop Loss: โ‚น414.05 (50% Fibonacci Level) to protect against downside risk.

6๏ธโƒฃ Risk Management:

๐Ÿ“ฅ Entry Strategy: Consider entering near the current price or on minor pullbacks towards the 61.8% retracement level (โ‚น428.80).

โš–๏ธ Risk-to-Reward Ratio: The trade setup offers a favorable risk-to-reward ratio of at least 1:2 based on defined targets and stop-loss levels.

โš ๏ธ Disclaimer:
This analysis is based on technical indicators and market patterns and is intended for educational purposes. Market conditions may change, and this is not investment advice. Please conduct your own research or consult a financial advisor before making trading decisions.

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