### **Technical Analysis of Walchandnagar Industries Ltd. (NSE: WALCHANNAG)**
The chart highlights a **cup and handle** pattern, signaling a potential bullish breakout.
### **Key Observations:**
- **Cup Formation:** Extended consolidation phase, indicating accumulation.
- **Handle Formation:** A brief pullback before the breakout, confirming renewed buying interest.
- **Breakout Confirmation:** Price surged above **₹229.00**, now trading at **₹235.32** (+8.30%).
- **Target Price:** **₹315.80**, based on pattern depth, suggesting a **34.2% upside.
### **Indicators to Watch:**
- **Volume:** Significant spike at breakout, confirming strength.
- **RSI:** Above **60**, signals strong momentum.
- **MACD:** Bullish crossover strengthens trend continuation.
- **Support:** **₹229.00** (former resistance turned support).
The chart highlights a **cup and handle** pattern, signaling a potential bullish breakout.
### **Key Observations:**
- **Cup Formation:** Extended consolidation phase, indicating accumulation.
- **Handle Formation:** A brief pullback before the breakout, confirming renewed buying interest.
- **Breakout Confirmation:** Price surged above **₹229.00**, now trading at **₹235.32** (+8.30%).
- **Target Price:** **₹315.80**, based on pattern depth, suggesting a **34.2% upside.
### **Indicators to Watch:**
- **Volume:** Significant spike at breakout, confirming strength.
- **RSI:** Above **60**, signals strong momentum.
- **MACD:** Bullish crossover strengthens trend continuation.
- **Support:** **₹229.00** (former resistance turned support).
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.