Looking at the chart, it’s pretty clear the stock has been in a short-term downtrend after forming a peak around the September high near ₹1,068, but it has now started to stabilize and show signs of reversal.
We can see a classic inverse head and shoulders pattern forming —
Left Shoulder around early October,
Head near mid-October (the lowest point), and
Right Shoulder forming recently.
At the head, there’s a bullish engulfing candle, which signals strong buying interest and potential reversal. The neckline (resistance turned support) sits roughly around ₹936–940, and the price has broken above it, confirming the bullish structure.
📊 Price Structure & Zones
Support (SEP LOW): ₹936
→ This level held multiple times, showing buyers are active here.
Immediate Resistance / Supply Zone: ₹980–₹995
→ Expect some profit booking or sideways action in this region.
Major Resistance (Target): ₹1,068 (September high)
→ If price sustains above ₹995, it can easily rally toward this zone.
⚙️ Trading Plan
✅ Entry Options
Aggressive Entry:
Around current price (₹960–965) since breakout is confirmed.
Conservative Entry:
Wait for a pullback to ₹940–950 zone and buy on a bullish candle confirmation.
🛡️ Stop-Loss (SL):
Keep SL below ₹925, under the right shoulder / recent swing low.
→ If price falls below this, the pattern fails.
🎯 Targets
Target 1: ₹985–995 (intermediate resistance zone)
Target 2: ₹1,068 (measured move from inverse head & shoulders pattern)
We can see a classic inverse head and shoulders pattern forming —
Left Shoulder around early October,
Head near mid-October (the lowest point), and
Right Shoulder forming recently.
At the head, there’s a bullish engulfing candle, which signals strong buying interest and potential reversal. The neckline (resistance turned support) sits roughly around ₹936–940, and the price has broken above it, confirming the bullish structure.
📊 Price Structure & Zones
Support (SEP LOW): ₹936
→ This level held multiple times, showing buyers are active here.
Immediate Resistance / Supply Zone: ₹980–₹995
→ Expect some profit booking or sideways action in this region.
Major Resistance (Target): ₹1,068 (September high)
→ If price sustains above ₹995, it can easily rally toward this zone.
⚙️ Trading Plan
✅ Entry Options
Aggressive Entry:
Around current price (₹960–965) since breakout is confirmed.
Conservative Entry:
Wait for a pullback to ₹940–950 zone and buy on a bullish candle confirmation.
🛡️ Stop-Loss (SL):
Keep SL below ₹925, under the right shoulder / recent swing low.
→ If price falls below this, the pattern fails.
🎯 Targets
Target 1: ₹985–995 (intermediate resistance zone)
Target 2: ₹1,068 (measured move from inverse head & shoulders pattern)
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.