Weekly Chart Analysis
1. **Trend Analysis:**
- Achieved a peak of 2762 in January 2021.
- Subsequently, the stock has sustained a negative trend over the past two years.
- Recorded a low of 1213, signifying a notable 56% retracement from its highest point.
2. **Critical Support Levels:**
- Identifying a pivotal support range at Rs. 1242 to Rs. 1265.
- Anticipating a potential reversal from this support level.
- In the event of a breach above this support, a cautious approach is recommended, with attention drawn to the range of Rs. 1060 to Rs. 1095.
3. **RSI Divergence Analysis:**
- If the stock descends to the 1100 level, a meticulous examination of RSI divergence is advised.
- Positive divergence on the RSI could serve as an indicator for a potential reversal point.
4. **Price Resistance Levels:**
- Key resistance levels to monitor:
1. Rs. 1790 to Rs. 1821
2. Rs. 2110 to Rs. 2150.
5. **Strategic Time Frame:**
- The comprehensive analysis is projected over a strategic timeline of 6 to 24 months, offering a well-defined outlook for investors and stakeholders.
1. **Trend Analysis:**
- Achieved a peak of 2762 in January 2021.
- Subsequently, the stock has sustained a negative trend over the past two years.
- Recorded a low of 1213, signifying a notable 56% retracement from its highest point.
2. **Critical Support Levels:**
- Identifying a pivotal support range at Rs. 1242 to Rs. 1265.
- Anticipating a potential reversal from this support level.
- In the event of a breach above this support, a cautious approach is recommended, with attention drawn to the range of Rs. 1060 to Rs. 1095.
3. **RSI Divergence Analysis:**
- If the stock descends to the 1100 level, a meticulous examination of RSI divergence is advised.
- Positive divergence on the RSI could serve as an indicator for a potential reversal point.
4. **Price Resistance Levels:**
- Key resistance levels to monitor:
1. Rs. 1790 to Rs. 1821
2. Rs. 2110 to Rs. 2150.
5. **Strategic Time Frame:**
- The comprehensive analysis is projected over a strategic timeline of 6 to 24 months, offering a well-defined outlook for investors and stakeholders.
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.