Hyundai Stock Analysis: Is This the Start of a Powerful Bullish

The Hyundai stock chart is showcasing a textbook Elliott Wave structure, with the corrective (5) wave phase completed and a new impulsive wave emerging. The recent breakout above critical levels hints at a potential rally, but a final confirmation is needed. Let’s dive deeper into the technicals and uncover trading opportunities!
Key Support and Resistance Levels
🔑 Support Zones:
• ₹1,736.25: The key rebound zone where the rally started.
• ₹1,829.80: The breakout level, now acting as support.
🔑 Resistance Zones:
• ₹1,933.85: A strong hurdle where the price faces selling pressure.
• ₹2,050: The next psychological barrier for bulls.
Next Breakout Target 🎯
If the price successfully breaks and sustains above ₹1,933.85 with strong volume, the next target lies at ₹2,050. Traders should keep an eye on consolidation patterns around these levels.
Price Action Analysis 📊
• The stock formed a bullish Engulfing Candlestick at ₹1,829.80, signaling strong buying interest.
• A minor rejection near ₹1,933.85 highlights hesitation but not a reversal.
Indicator Insights 🔍
📈 Moving Averages (MAs):
• Price above the 50-day and 200-day MAs = Bullish Momentum.
📈 Relative Strength Index (RSI):
• RSI at 70 = Slightly overbought; expect minor consolidation or pullbacks.
📈 MACD:
• Positive crossover above zero = Momentum supports the bulls.
📈 Bollinger Bands:
• Price near the upper band = Potential for short-term cooling before further upside.
Volume Analysis 🔦
Volume spikes during the breakout above ₹1,829.80 confirmed strong buying pressure. However, reduced volume near ₹1,933.85 suggests cautious optimism.

Trend & Momentum 📐
The stock is in a clear uptrend, forming higher highs and higher lows. Momentum indicators support further bullish movement.
Trading Opportunities
🎯 Long Opportunity:
• Entry: ₹1,850 on a pullback.
• Stop-Loss: ₹1,800.
• Target 1: ₹1,933.85.
• Target 2: ₹2,050.
🎯 Short Opportunity:
• Entry: ₹1,920 if resistance holds.
• Stop-Loss: ₹1,950.
• Target: ₹1,829.80.
Risk Management Strategy
• Position Sizing: Keep risk under 2% of total capital.
• Risk-Reward Ratio: Maintain a 1:2 ratio for all trades.
Future Projections 🚀
🔹 Bullish Scenario: Breakout above ₹1,933.85 leads to ₹2,050 and beyond.
🔹 Bearish Scenario: A drop below ₹1,829.80 signals a retracement to ₹1,736.25.
Upcoming News & Events 📰
• Earnings Report: Watch for any surprise earnings that could fuel a rally.
• Macro Factors: Monitor sector trends and broader market sentiment.
Disclaimer
This analysis is for educational and informational purposes only. It is not financial advice. Do your research or consult a financial advisor before making any investment decisions. Trading in the stock market involves significant risk.

By Hiren Soni
Trader 📈 | Finance & Global Markets Enthusiast 🌍 | Fund Advisor 💼
Turning insights into growth 🚀