Trend Structure:
The stock has been in a primary uptrend (marked with the blue ascending channel).
Recently, it went into a short-term retracement with a downward sloping trendline (white).
Support & Demand Zones:
Strong Bullish Order Block and FVG Discount Zone around the ₹1350 – ₹1400 level, where buyers are stepping in.
Price formed a Triple Bottom at this support, indicating strong demand and rejection of lower prices.
Pattern & Candlestick Structure:
Triple Bottom is a reversal pattern confirming that sellers are unable to push below ₹1350.
Current candles show bullish momentum, reclaiming above the retracement trendline.
Breakout:
Price has broken the short-term retracement trendline on the upside, signaling a potential end to the correction.
Fresh momentum is visible with today’s +3.70% rise, closing near ₹1478.
Volume:
Breakout accompanied with decent volume (296K), strengthening the bullish signal.
🔹 Technical Outlook:
Bullish Bias: The combination of triple bottom support, order block demand zone, and trendline breakout suggests bullish continuation.
Immediate Resistance Levels: ₹1520 – ₹1560 (near-term supply zone).
Major Resistance: ₹1650 – ₹1700 (previous swing highs).
Support Levels: ₹1400 (strong demand zone), followed by ₹1320 if broken.
🔹 Trading View:
Aggressive Traders: Can look for long entries near ₹1450–₹1470 with a stop loss below ₹1400.
Conservative Traders: Wait for a daily close above ₹1520 to confirm strength before entering.
Targets: First target ₹1560, second target ₹1650–₹1700
The stock has been in a primary uptrend (marked with the blue ascending channel).
Recently, it went into a short-term retracement with a downward sloping trendline (white).
Support & Demand Zones:
Strong Bullish Order Block and FVG Discount Zone around the ₹1350 – ₹1400 level, where buyers are stepping in.
Price formed a Triple Bottom at this support, indicating strong demand and rejection of lower prices.
Pattern & Candlestick Structure:
Triple Bottom is a reversal pattern confirming that sellers are unable to push below ₹1350.
Current candles show bullish momentum, reclaiming above the retracement trendline.
Breakout:
Price has broken the short-term retracement trendline on the upside, signaling a potential end to the correction.
Fresh momentum is visible with today’s +3.70% rise, closing near ₹1478.
Volume:
Breakout accompanied with decent volume (296K), strengthening the bullish signal.
🔹 Technical Outlook:
Bullish Bias: The combination of triple bottom support, order block demand zone, and trendline breakout suggests bullish continuation.
Immediate Resistance Levels: ₹1520 – ₹1560 (near-term supply zone).
Major Resistance: ₹1650 – ₹1700 (previous swing highs).
Support Levels: ₹1400 (strong demand zone), followed by ₹1320 if broken.
🔹 Trading View:
Aggressive Traders: Can look for long entries near ₹1450–₹1470 with a stop loss below ₹1400.
Conservative Traders: Wait for a daily close above ₹1520 to confirm strength before entering.
Targets: First target ₹1560, second target ₹1650–₹1700
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.