Shipping Corporation of india: Massive multi month breakout
Shipping Corporation of India Limited (SCI) has just delivered a powerful structural breakout on the daily timeframe. After trading in a wide consolidation range for nearly a year, the stock has decisively surged past a major resistance level, signaling the start of a potential multi-month uptrend.
Key Technical Observations:
Major Horizontal Breakout: The stock has cleared the critical ₹279.40 resistance zone. This level had acted as a ceiling during multiple attempts since late 2025; flipping this into support is a highly bullish structural shift.
52-Week High Momentum: By trading at ₹303.10, the stock is at new 52-week highs, indicating a lack of immediate overhead supply and strong institutional interest.
Volume Confirmation: The breakout is supported by a massive volume spike of 15.01M, which is significantly higher than the average daily volume. This confirms that the move is backed by strong accumulation.
Moving Average Power Trend: The price is trending well above its 20, 50, and 100-day EMAs. The shorter-term averages are angling upward sharply, providing a dynamic "wind at the back" for this momentum move.
Trade Setup:
Entry: Current Market Price (₹303.10) or on a minor "throwback" toward the breakout level of ₹285 - ₹290.
Stop Loss (SL): ₹265 (Placed below the breakout candle low and the immediate horizontal support).
Targets:
Target 1: ₹340 (Immediate psychological resistance)
Target 2: ₹385+ (Based on the measured move from the 1-year consolidation base)
Disclaimer:
This analysis is for educational and informational purposes only. Trading in the stock market involves significant risk. Please perform your own research or consult with a SEBI-registered financial advisor before making any investment decisions. I am not a SEBI-registered advisor.
Key Technical Observations:
Major Horizontal Breakout: The stock has cleared the critical ₹279.40 resistance zone. This level had acted as a ceiling during multiple attempts since late 2025; flipping this into support is a highly bullish structural shift.
52-Week High Momentum: By trading at ₹303.10, the stock is at new 52-week highs, indicating a lack of immediate overhead supply and strong institutional interest.
Volume Confirmation: The breakout is supported by a massive volume spike of 15.01M, which is significantly higher than the average daily volume. This confirms that the move is backed by strong accumulation.
Moving Average Power Trend: The price is trending well above its 20, 50, and 100-day EMAs. The shorter-term averages are angling upward sharply, providing a dynamic "wind at the back" for this momentum move.
Trade Setup:
Entry: Current Market Price (₹303.10) or on a minor "throwback" toward the breakout level of ₹285 - ₹290.
Stop Loss (SL): ₹265 (Placed below the breakout candle low and the immediate horizontal support).
Targets:
Target 1: ₹340 (Immediate psychological resistance)
Target 2: ₹385+ (Based on the measured move from the 1-year consolidation base)
Disclaimer:
This analysis is for educational and informational purposes only. Trading in the stock market involves significant risk. Please perform your own research or consult with a SEBI-registered financial advisor before making any investment decisions. I am not a SEBI-registered advisor.
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.