Imagicaa Bullish Momentum with Key Resistance Breakout Potential
✅The stock has been in a consolidation phase within a rectangle pattern, indicating a period of accumulation. A breakout above the upper resistance level of the rectangle would signal a continuation of the prior uptrend.
✅The 100 EMA has acted as a dynamic support, maintaining the stock's price within the consolidation range. The lower support of the rectangle pattern around ₹68-70 has consistently held, indicating strong buying interest at these levels.
✅There is a significant increase in volume as the stock approaches the upper resistance level of the rectangle, suggesting that buyers are gaining confidence. High volume on the breakout attempt indicates strong market interest and potential for a sustained move.
✅The RSI is currently around 67.97, indicating bullish momentum. An RSI moving towards overbought territory shows increasing buying strength and the potential for further price increases.
Trade active
Today 7% up, moving well keep holding
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Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
Join our community in telegram for real time updates --- telegram.me/marketiik
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
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