NEWGEN Approaching Upper Trendline in Rising Channel
Updated
✅ The stock has been trading within a well-defined rising channel, with the price currently nearing the upper trendline around ₹1,120. This suggests potential for a breakout if bullish momentum continues.
✅ The RSI is trending upwards and is around 68, indicating growing bullish momentum. The stock has shown strong resilience within the channel, respecting both the upper and lower boundaries.
✅ If the stock breaks above the upper trendline, it could aim for higher levels, potentially targeting ₹1,200. However, if it faces resistance, a pullback towards the lower trendline around ₹1,050 could occur.
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