The price is currently approaching the lower end of the channel, near support. The price is testing support near ₹4,000, a critical psychological and technical level. Volume appears relatively low, suggesting a lack of strong participation during the recent pullback. This could mean limited selling pressure.
Support Levels:
₹4,000 (current level, coinciding with trendline support).
₹3,800 (next major support, below the trendline).
Resistance Levels:
₹4,400 (immediate resistance).
₹4,600-₹4,800 (upper channel resistance).
Suggested Trading Strategy ~ Long
If the stock holds ₹4,000 and starts to reverse:
Entry Point: Around ₹4,000–₹4,050.
Stop-Loss: ₹3,950.
Target Levels: ₹4,400 (initial) and ₹4,600 (secondary).
Suggested Trading Strategy ~ Short
If the stock breaks below ₹3,950:
Avoid buying, and consider shorting with a target of ₹3,800.
Stop-Loss: ₹4,050.
Support Levels:
₹4,000 (current level, coinciding with trendline support).
₹3,800 (next major support, below the trendline).
Resistance Levels:
₹4,400 (immediate resistance).
₹4,600-₹4,800 (upper channel resistance).
Suggested Trading Strategy ~ Long
If the stock holds ₹4,000 and starts to reverse:
Entry Point: Around ₹4,000–₹4,050.
Stop-Loss: ₹3,950.
Target Levels: ₹4,400 (initial) and ₹4,600 (secondary).
Suggested Trading Strategy ~ Short
If the stock breaks below ₹3,950:
Avoid buying, and consider shorting with a target of ₹3,800.
Stop-Loss: ₹4,050.
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.