Current Price: ₹821.30 (+5.59%)
Trend: The stock has been trading within a falling channel since June, indicating a bearish structure.
Key Development:
A strong bullish breakout candle today, breaking above the mid-channel resistance and approaching the upper trend line of the channel.
Resistance Levels:
Primary Resistance: ₹826.50 – ₹830.75
Next target in case of breakout: ₹850 – ₹865 (previous swing highs).
Support Levels:
Immediate Support: ₹780 – ₹790 zone
Strong support near ₹765 – ₹770.
Price Target (on confirmed breakout):
Short-term target: ₹850 – ₹865.
Conservative target: ₹835 – ₹840 if momentum slows near resistance.
Risk Management:
Place stop-loss below ₹780 to protect against false breakouts.
Monitor volume: Higher volume on the breakout strengthens validity.
If the stock fails to sustain above ₹830, expect consolidation or a potential retest of lower support.
⚠️ Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice or a recommendation to buy or sell any security. Investors should conduct their own research or consult a qualified financial advisor before making investment decisions. Market conditions can change rapidly, and past performance is not indicative of future results.
Trend: The stock has been trading within a falling channel since June, indicating a bearish structure.
Key Development:
A strong bullish breakout candle today, breaking above the mid-channel resistance and approaching the upper trend line of the channel.
Resistance Levels:
Primary Resistance: ₹826.50 – ₹830.75
Next target in case of breakout: ₹850 – ₹865 (previous swing highs).
Support Levels:
Immediate Support: ₹780 – ₹790 zone
Strong support near ₹765 – ₹770.
Price Target (on confirmed breakout):
Short-term target: ₹850 – ₹865.
Conservative target: ₹835 – ₹840 if momentum slows near resistance.
Risk Management:
Place stop-loss below ₹780 to protect against false breakouts.
Monitor volume: Higher volume on the breakout strengthens validity.
If the stock fails to sustain above ₹830, expect consolidation or a potential retest of lower support.
⚠️ Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice or a recommendation to buy or sell any security. Investors should conduct their own research or consult a qualified financial advisor before making investment decisions. Market conditions can change rapidly, and past performance is not indicative of future results.
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.