1. Price Action & Levels
• CMP (Current Market Price): ₹143.92
• Stock recently had a sharp gap-down fall with heavy volumes, indicating strong selling pressure.
• After the fall, it stabilized around ₹140–141 zone, which is acting as immediate support.
• Next supports: ₹141 → ₹135 → ₹120
• Resistance zones: ₹150–155 → ₹175 → ₹200
Currently, the stock is attempting a pullback rally after the big fall.
⸻
2. RSI (Relative Strength Index – 14)
• RSI is around 40–42, recovering from deeply oversold levels (<30).
• Positive divergence was visible earlier (RSI made a higher low while price made a lower low).
• This suggests short-term bullish momentum may continue, but RSI is still below 50, so trend is not yet strongly bullish.
⸻
3. MACD (12,26,9)
• MACD is showing a bullish crossover below the zero line.
• Histogram turning positive → momentum is shifting upward.
• However, still in the negative territory, so this is more of a pullback than a confirmed uptrend.
⸻
4. Volume
• The big fall was accompanied by very high volume, confirming institutional selling.
• Recent green candles are on moderate volume, showing buyers are coming back but not strongly yet.
• Watch for volume confirmation on breakout above resistance levels (₹150–155).
⸻
5. Overall Analysis
• The stock had a breakdown and gap-down due to strong negative sentiment.
• Indicators suggest a short-term pullback rally is in play, supported by bullish divergence in RSI and MACD crossover.
• However, long-term trend is still weak until the stock reclaims ₹175–180 levels convincingly.
⸻
✅ Bullish View (short-term traders):
• If it sustains above ₹141 support, it can move to ₹150–155 zone.
• If ₹155 breaks with volume, next target is ₹175.
❌ Bearish Risk (positional investors):
• If it breaks below ₹141, expect further downside towards ₹135–120 zone.
⸻
📌 Conclusion:
• Currently, this looks like a short-term pullback rally after a heavy sell-off.
• Trend remains weak to neutral unless it crosses ₹175.
• Safe traders may wait for either a dip near ₹141–135 or a breakout above ₹155 for confirmation.
• CMP (Current Market Price): ₹143.92
• Stock recently had a sharp gap-down fall with heavy volumes, indicating strong selling pressure.
• After the fall, it stabilized around ₹140–141 zone, which is acting as immediate support.
• Next supports: ₹141 → ₹135 → ₹120
• Resistance zones: ₹150–155 → ₹175 → ₹200
Currently, the stock is attempting a pullback rally after the big fall.
⸻
2. RSI (Relative Strength Index – 14)
• RSI is around 40–42, recovering from deeply oversold levels (<30).
• Positive divergence was visible earlier (RSI made a higher low while price made a lower low).
• This suggests short-term bullish momentum may continue, but RSI is still below 50, so trend is not yet strongly bullish.
⸻
3. MACD (12,26,9)
• MACD is showing a bullish crossover below the zero line.
• Histogram turning positive → momentum is shifting upward.
• However, still in the negative territory, so this is more of a pullback than a confirmed uptrend.
⸻
4. Volume
• The big fall was accompanied by very high volume, confirming institutional selling.
• Recent green candles are on moderate volume, showing buyers are coming back but not strongly yet.
• Watch for volume confirmation on breakout above resistance levels (₹150–155).
⸻
5. Overall Analysis
• The stock had a breakdown and gap-down due to strong negative sentiment.
• Indicators suggest a short-term pullback rally is in play, supported by bullish divergence in RSI and MACD crossover.
• However, long-term trend is still weak until the stock reclaims ₹175–180 levels convincingly.
⸻
✅ Bullish View (short-term traders):
• If it sustains above ₹141 support, it can move to ₹150–155 zone.
• If ₹155 breaks with volume, next target is ₹175.
❌ Bearish Risk (positional investors):
• If it breaks below ₹141, expect further downside towards ₹135–120 zone.
⸻
📌 Conclusion:
• Currently, this looks like a short-term pullback rally after a heavy sell-off.
• Trend remains weak to neutral unless it crosses ₹175.
• Safe traders may wait for either a dip near ₹141–135 or a breakout above ₹155 for confirmation.
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.