Shipping Corporation of India - Forming Bullish Head & Shoulder
📈 Chart Analysis: On the weekly chart, Shipping Corporation of India (SCI) is showing signs of forming a "Bullish inverted head and shoulders pattern", which is typically a reversal structure that signals the resumption of an uptrend. The neckline resistance is placed near ₹245–₹250 levels, and a decisive breakout above this zone could unlock strong upside momentum.
📊 Trend & Support: The stock is trading along an established uptrend line, which acts as a "Dynamic Support Level". This trendline has been respected multiple times, reinforcing its validity. As long as the price sustains above this trendline, the bullish structure remains intact.
🔎 Momentum Indicators: RSI (Weekly) is currently around 56, showing neutral-to-positive momentum with room for further upside. Volumes have shown accumulation on upward moves, suggesting buying interest on rallies.
⚠️ Disclaimer:
This is a technical projection, not an investment recommendation. Any trading strategy should be established based on risk appetite, confirmation signals, and individual financial goals.
✍️ Prepared by: SEBI Certified Research Analyst (Not Registered)
📊 Trend & Support: The stock is trading along an established uptrend line, which acts as a "Dynamic Support Level". This trendline has been respected multiple times, reinforcing its validity. As long as the price sustains above this trendline, the bullish structure remains intact.
🔎 Momentum Indicators: RSI (Weekly) is currently around 56, showing neutral-to-positive momentum with room for further upside. Volumes have shown accumulation on upward moves, suggesting buying interest on rallies.
⚠️ Disclaimer:
This is a technical projection, not an investment recommendation. Any trading strategy should be established based on risk appetite, confirmation signals, and individual financial goals.
✍️ Prepared by: SEBI Certified Research Analyst (Not Registered)
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.