📊 ONWARD TECHNOLOGIES LTD (1D) – CMP ₹313.00
📅 Published on: May 17, 2025
📈 Exchange: NSE
📌 Ticker: ONWARDTEC
🔍 Technical Chart Analysis
✅ Trendline Breakout:
A clean downtrend line breakout is visible on the daily chart, marking the end of a prolonged bearish phase. Price has decisively broken above the falling resistance trendline with a sharp bullish candle and strong volume confirmation.
✅ Volume Surge:
Breakout occurred with a 17.76% gain and significantly higher volume (1.23M), hinting at strong buying interest and possible institutional accumulation.
✅ Fibonacci Retracement Zones (from swing high ₹731.00 to low ₹207.30):
38.2% – ₹407.40
50.0% – ₹469.20
61.8% – ₹531.00
78.6% – ₹618.95
100% – ₹731.00
✅ Support Confirmation:
The price held the multi-year support zone around ₹207.97, which aligns with the 0.00% Fibo level, forming a strong base for reversal.
🧱 Key Support & Resistance Levels
🟩 Support Zones:
₹207.97 (Major long-term support)
₹265–270 (Breakout retest zone if pullback happens)
🟥 Resistance Zones (Fibonacci-based):
₹407.40 (38.2% FIB)
₹469.20 (50.0% FIB)
₹531.00 (61.8% FIB - Golden Ratio)
₹618.95
₹731.00 (Previous ATH)
📉 Timeframe: Daily (1D)
📈 Sentiment: Turning Bullish
💡 Conclusion:
After a long correction, ONWARDTEC has shown a breakout with strong volume from a downtrend line. Holding above ₹300 levels can open room for targets near ₹407–₹469 and beyond. A good setup for swing traders looking for reversal entries.
📌 Disclaimer:
This analysis is for educational and informational purposes only. Not financial advice. Please consult your advisor before making investment decisions.
📅 Published on: May 17, 2025
📈 Exchange: NSE
📌 Ticker: ONWARDTEC
🔍 Technical Chart Analysis
✅ Trendline Breakout:
A clean downtrend line breakout is visible on the daily chart, marking the end of a prolonged bearish phase. Price has decisively broken above the falling resistance trendline with a sharp bullish candle and strong volume confirmation.
✅ Volume Surge:
Breakout occurred with a 17.76% gain and significantly higher volume (1.23M), hinting at strong buying interest and possible institutional accumulation.
✅ Fibonacci Retracement Zones (from swing high ₹731.00 to low ₹207.30):
38.2% – ₹407.40
50.0% – ₹469.20
61.8% – ₹531.00
78.6% – ₹618.95
100% – ₹731.00
✅ Support Confirmation:
The price held the multi-year support zone around ₹207.97, which aligns with the 0.00% Fibo level, forming a strong base for reversal.
🧱 Key Support & Resistance Levels
🟩 Support Zones:
₹207.97 (Major long-term support)
₹265–270 (Breakout retest zone if pullback happens)
🟥 Resistance Zones (Fibonacci-based):
₹407.40 (38.2% FIB)
₹469.20 (50.0% FIB)
₹531.00 (61.8% FIB - Golden Ratio)
₹618.95
₹731.00 (Previous ATH)
📉 Timeframe: Daily (1D)
📈 Sentiment: Turning Bullish
💡 Conclusion:
After a long correction, ONWARDTEC has shown a breakout with strong volume from a downtrend line. Holding above ₹300 levels can open room for targets near ₹407–₹469 and beyond. A good setup for swing traders looking for reversal entries.
📌 Disclaimer:
This analysis is for educational and informational purposes only. Not financial advice. Please consult your advisor before making investment decisions.
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.