PI Industries Ltd. (NSE)- STOCK ANALYSIS
Conclusion:
The stock shows a potential breakout, but the negative volume suggests caution. If it sustains above ₹4,617.25, the next target can be ₹4,769. However, any failure to hold this level could push the price back toward ₹4,321.
Monitor volume and price action for clearer confirmation of the trend.
Key Observations:
Current Price: ₹4,617.25
Recent Movement:
There was a 5.12% upward movement (₹238.45), indicating a potential bullish breakout.
Before this upward movement, the stock experienced a 6.75% decline (₹309.60) in price.
Possible Scenarios:
Bullish Target: Based on the upward movement, the next target can be around ₹4,769, as indicated by the height of the previous breakout.
Bearish Scenario: If the price fails to sustain above the recent levels, it could face a decline of 6.44% (₹296.15), bringing it down to around ₹4,321.
https://www.tradingview.com/x/89CjV5Fd/
Volume Analysis:
CVD (Cumulative Volume Delta): Negative values are visible in the recent volume activity, suggesting selling pressure, which could impact the next price direction. It's essential to watch how the volume behaves around these price levels for any major reversal or continuation signal.
The stock shows a potential breakout, but the negative volume suggests caution. If it sustains above ₹4,617.25, the next target can be ₹4,769. However, any failure to hold this level could push the price back toward ₹4,321.
Monitor volume and price action for clearer confirmation of the trend.
Key Observations:
Current Price: ₹4,617.25
Recent Movement:
There was a 5.12% upward movement (₹238.45), indicating a potential bullish breakout.
Before this upward movement, the stock experienced a 6.75% decline (₹309.60) in price.
Possible Scenarios:
Bullish Target: Based on the upward movement, the next target can be around ₹4,769, as indicated by the height of the previous breakout.
Bearish Scenario: If the price fails to sustain above the recent levels, it could face a decline of 6.44% (₹296.15), bringing it down to around ₹4,321.
https://www.tradingview.com/x/89CjV5Fd/
Volume Analysis:
CVD (Cumulative Volume Delta): Negative values are visible in the recent volume activity, suggesting selling pressure, which could impact the next price direction. It's essential to watch how the volume behaves around these price levels for any major reversal or continuation signal.
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