📊 Chart Overview
CMP: ₹4,167.40
Day’s Range: ₹4,020.00 – ₹4,199.00
Change: +₹152.60 (+3.80%)
Trendline: Price is respecting a strong upward trendline, acting as dynamic support.
🔍 Technical Insights
Trendline Support:
Multiple touches on the trendline with today's candle bouncing off it = strong confirmation of bullish support.
Today's bullish candle with high volume at trendline adds conviction.
Volume Surge:
The bullish day is supported by increasing volume—an indication of institutional or smart money buying at support.
Structure:
The stock has made higher lows consistently, showing strength.
Short-term consolidation in the ₹4,000–₹4,250 range, now showing breakout potential.
Next Resistance Zones:
₹4,250–4,300: Recent highs and minor hurdle
₹4,500+: Next potential target if breakout is confirmed
₹4,850–5,000: Major resistance from earlier downtrend
✅ Buying Strategy Suggestion
Aggressive Buy (Since it bounced on trendline):
Buy now (₹4,160–₹4,200) with SL below trendline support (₹3,980)
Target 1: ₹4,300
Target 2: ₹4,500+
Conservative Buy:
Wait for a breakout above ₹4,300 with volume
Entry on retest of breakout or during momentum
SL: ₹4,100
Targets: ₹4,500 → ₹4,800+
⚠️ Risk Notes
A breakdown of the trendline with volume invalidates this setup
Keep a tight stop below trendline (₹3,950–₹3,980 zone)
Broader market weakness can impact short-term moves
CMP: ₹4,167.40
Day’s Range: ₹4,020.00 – ₹4,199.00
Change: +₹152.60 (+3.80%)
Trendline: Price is respecting a strong upward trendline, acting as dynamic support.
🔍 Technical Insights
Trendline Support:
Multiple touches on the trendline with today's candle bouncing off it = strong confirmation of bullish support.
Today's bullish candle with high volume at trendline adds conviction.
Volume Surge:
The bullish day is supported by increasing volume—an indication of institutional or smart money buying at support.
Structure:
The stock has made higher lows consistently, showing strength.
Short-term consolidation in the ₹4,000–₹4,250 range, now showing breakout potential.
Next Resistance Zones:
₹4,250–4,300: Recent highs and minor hurdle
₹4,500+: Next potential target if breakout is confirmed
₹4,850–5,000: Major resistance from earlier downtrend
✅ Buying Strategy Suggestion
Aggressive Buy (Since it bounced on trendline):
Buy now (₹4,160–₹4,200) with SL below trendline support (₹3,980)
Target 1: ₹4,300
Target 2: ₹4,500+
Conservative Buy:
Wait for a breakout above ₹4,300 with volume
Entry on retest of breakout or during momentum
SL: ₹4,100
Targets: ₹4,500 → ₹4,800+
⚠️ Risk Notes
A breakdown of the trendline with volume invalidates this setup
Keep a tight stop below trendline (₹3,950–₹3,980 zone)
Broader market weakness can impact short-term moves
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.