Key Observations:
Current Price Action:
The stock closed at ₹121.50 with a strong bullish candle, gaining +2.55% today.
It broke above a horizontal resistance zone around ₹114.66, now turned support.
The breakout candle is accompanied by increased volume, indicating strength and participation.
Resistance Zone:
The next immediate resistance is around ₹125.63, a previous swing high.
If the price sustains above ₹121, it could attempt to retest or break ₹125.63.
Support Zone:
The breakout level of ₹114.66 now acts as strong support.
Below that, minor support can be seen around ₹108.
Trend:
The stock was in a consolidation phase for a couple of months.
Recent higher lows and today's breakout suggest bullish momentum building up.
Volume:
Volume spikes on breakout candles generally confirm institutional interest or high conviction among traders.
What to Watch Next:
Sustained move above ₹121 could lead to a rally toward ₹125.63 or higher.
Failure to hold above ₹114.66 may invalidate the breakout, leading to a pullback.
Watch for follow-through candles and volume confirmation in the coming sessions.
Current Price Action:
The stock closed at ₹121.50 with a strong bullish candle, gaining +2.55% today.
It broke above a horizontal resistance zone around ₹114.66, now turned support.
The breakout candle is accompanied by increased volume, indicating strength and participation.
Resistance Zone:
The next immediate resistance is around ₹125.63, a previous swing high.
If the price sustains above ₹121, it could attempt to retest or break ₹125.63.
Support Zone:
The breakout level of ₹114.66 now acts as strong support.
Below that, minor support can be seen around ₹108.
Trend:
The stock was in a consolidation phase for a couple of months.
Recent higher lows and today's breakout suggest bullish momentum building up.
Volume:
Volume spikes on breakout candles generally confirm institutional interest or high conviction among traders.
What to Watch Next:
Sustained move above ₹121 could lead to a rally toward ₹125.63 or higher.
Failure to hold above ₹114.66 may invalidate the breakout, leading to a pullback.
Watch for follow-through candles and volume confirmation in the coming sessions.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.