NANDAN DENIM LTDLong
Nandan Denims - Looking Strong in Long Term
Trendline and VCP Pattern:
- The chart shows an upward trendline indicating a long-term bullish trend.
- There's a visible "VCP" (Volatility Contraction Pattern) forming. This pattern typically suggests a consolidation phase where price volatility decreases before a potential breakout.
Support and Resistance
- The price is currently around ₹45.35.
- Key support level is around the trendline, roughly at ₹25.
- Key resistance levels are around ₹60 and ₹80.
### Volume
- The volume is highlighted, showing an increase during significant price movements, which typically confirms the strength of the trend.
- Recent volume bars indicate moderate trading activity.
### Summary
- **Bullish Indicators**: Upward trendline, potential VCP breakout, and increasing volume during uptrends.
- **Bearish Indicators**: RSI nearing overbought levels, potential failure to break key resistance.
- The chart shows an upward trendline indicating a long-term bullish trend.
- There's a visible "VCP" (Volatility Contraction Pattern) forming. This pattern typically suggests a consolidation phase where price volatility decreases before a potential breakout.
Support and Resistance
- The price is currently around ₹45.35.
- Key support level is around the trendline, roughly at ₹25.
- Key resistance levels are around ₹60 and ₹80.
### Volume
- The volume is highlighted, showing an increase during significant price movements, which typically confirms the strength of the trend.
- Recent volume bars indicate moderate trading activity.
### Summary
- **Bullish Indicators**: Upward trendline, potential VCP breakout, and increasing volume during uptrends.
- **Bearish Indicators**: RSI nearing overbought levels, potential failure to break key resistance.
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