Trend:
The stock is maintaining a strong uptrend, respecting a well-defined ascending trendline that has been acting as dynamic support since early 2024. Higher highs and higher lows confirm bullish market structure.
Support Zones:
Primary demand zone near ₹7,400–₹7,600 aligns with the uptrend line.
Secondary demand zone around ₹6,800–₹7,000, near an open gap, offering strong positional support.
Resistance / Breakout Level:
The price is currently testing the ₹8,150–₹8,200 resistance zone, which aligns with previous equal highs (Eq Highs).
A confirmed breakout above this zone could trigger strong bullish momentum.
Price Action Setup:
The chart shows a tight consolidation just below resistance, indicating accumulation before breakout. If price closes decisively above ₹8,200 with volume, continuation toward ₹9,000–₹9,500 is likely.
Outlook:
As long as the price sustains above the uptrend line and ₹7,600 zone, the bias remains bullish. A clean breakout could mark the start of a new impulse wave
The stock is maintaining a strong uptrend, respecting a well-defined ascending trendline that has been acting as dynamic support since early 2024. Higher highs and higher lows confirm bullish market structure.
Support Zones:
Primary demand zone near ₹7,400–₹7,600 aligns with the uptrend line.
Secondary demand zone around ₹6,800–₹7,000, near an open gap, offering strong positional support.
Resistance / Breakout Level:
The price is currently testing the ₹8,150–₹8,200 resistance zone, which aligns with previous equal highs (Eq Highs).
A confirmed breakout above this zone could trigger strong bullish momentum.
Price Action Setup:
The chart shows a tight consolidation just below resistance, indicating accumulation before breakout. If price closes decisively above ₹8,200 with volume, continuation toward ₹9,000–₹9,500 is likely.
Outlook:
As long as the price sustains above the uptrend line and ₹7,600 zone, the bias remains bullish. A clean breakout could mark the start of a new impulse wave
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.