Price Structure:
Liquidity Sweep: Price earlier swept liquidity at the lows (highlighted in yellow circle), which often indicates smart money accumulation.
Dealing Range: Clear defined range with upper resistance near 82.89 and lower support around 44.
Discount Zone: Price traded back into the lower range (discount zone), offering institutional buying opportunity.
Triple Bottom Formation: Strong base formed near ₹60 zone – confirming demand.
📉 Recent Price Action:
A downtrend channel (blue trendline) was broken to the upside.
Today’s green candle shows bullish intent with increased volume.
Market Structure Shift (MSS): Price breaking above minor resistance signals buyers are regaining control.
📈 Future Outlook:
If the triple bottom holds and MSS sustains, stock may start a higher-high, higher-low rally.
First resistance: 72–74 zone (short-term target).
Major resistance: 82.89 (previous high / range top).
A breakout above ₹83 could open the way to ₹90+ levels.
⚠️ Risk Factors:
Breakdown below ₹60 will invalidate bullish setup (triple bottom fails).
Watch overall market sentiment and volume confirmation.
Liquidity Sweep: Price earlier swept liquidity at the lows (highlighted in yellow circle), which often indicates smart money accumulation.
Dealing Range: Clear defined range with upper resistance near 82.89 and lower support around 44.
Discount Zone: Price traded back into the lower range (discount zone), offering institutional buying opportunity.
Triple Bottom Formation: Strong base formed near ₹60 zone – confirming demand.
📉 Recent Price Action:
A downtrend channel (blue trendline) was broken to the upside.
Today’s green candle shows bullish intent with increased volume.
Market Structure Shift (MSS): Price breaking above minor resistance signals buyers are regaining control.
📈 Future Outlook:
If the triple bottom holds and MSS sustains, stock may start a higher-high, higher-low rally.
First resistance: 72–74 zone (short-term target).
Major resistance: 82.89 (previous high / range top).
A breakout above ₹83 could open the way to ₹90+ levels.
⚠️ Risk Factors:
Breakdown below ₹60 will invalidate bullish setup (triple bottom fails).
Watch overall market sentiment and volume confirmation.
Penafian
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Penafian
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.