TNPL probable super trade set up
Based on the search results, the price action analysis for Tamil Nadu Newsprint & Papers Ltd. (TNPL) indicates a positive short-term trend with potential for further upward movement.
Short-Term Analysis
The stock is currently showing bullish momentum in the short term:
The price is trading above an important level of 176.42, which suggests the uptrend may continue as long as it remains above this level.
TNPL recently made a significant move, potentially due to positive sentiment or a block deal, with a good chance of this trend continuing.
The stock is trading above its weekly resistance, indicating bullish sentiment.
Technical Indicators
Several technical indicators support the bullish outlook:
The ADX buy signal for TNPL is strong, indicating the stock is gaining momentum.
MACD has generated a buy signal, although it is initial and weak.
CCI and RSI are both generating buy signals, with RSI showing increasing buying momentum.
Price Levels and Targets
Key price levels and targets to watch include:
Strong support and resistance levels at 164, 195, 222, 246, 271, and 318.
Short-term upside target of 185.39, with mid-term and long-term targets at 202.72 and 236.13 respectively.
Volume Analysis
Volume-based indicators show mixed signals:
The stock is trading above its Volume Weighted Average Price (VWAP) of 179.2, which is a positive sign.
However, volume-based technical analysis indicates some selling pressure.
Recent Performance
TNPL has shown positive performance recently:
The stock has risen by 5.56% compared to the previous week.
Monthly change shows a 16.10% increase.
While the short-term trend appears positive, it's important to note that over the last year, TNPL has shown a -36.87% decline. This suggests that while the current momentum is upward, the longer-term trend has been negative.
Short-Term Analysis
The stock is currently showing bullish momentum in the short term:
The price is trading above an important level of 176.42, which suggests the uptrend may continue as long as it remains above this level.
TNPL recently made a significant move, potentially due to positive sentiment or a block deal, with a good chance of this trend continuing.
The stock is trading above its weekly resistance, indicating bullish sentiment.
Technical Indicators
Several technical indicators support the bullish outlook:
The ADX buy signal for TNPL is strong, indicating the stock is gaining momentum.
MACD has generated a buy signal, although it is initial and weak.
CCI and RSI are both generating buy signals, with RSI showing increasing buying momentum.
Price Levels and Targets
Key price levels and targets to watch include:
Strong support and resistance levels at 164, 195, 222, 246, 271, and 318.
Short-term upside target of 185.39, with mid-term and long-term targets at 202.72 and 236.13 respectively.
Volume Analysis
Volume-based indicators show mixed signals:
The stock is trading above its Volume Weighted Average Price (VWAP) of 179.2, which is a positive sign.
However, volume-based technical analysis indicates some selling pressure.
Recent Performance
TNPL has shown positive performance recently:
The stock has risen by 5.56% compared to the previous week.
Monthly change shows a 16.10% increase.
While the short-term trend appears positive, it's important to note that over the last year, TNPL has shown a -36.87% decline. This suggests that while the current momentum is upward, the longer-term trend has been negative.
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