#Shalby Ltd - #Technical Analysis Report
Current Price: 264.50
Key Technical Signals
Bullish Confirmation from Multiple Timeframes:
- Monthly chart shows a confirmed range breakout with uptrend validation
- Previous high broken on monthly chart, establishing higher highs
- Powerful RSI Bullish Divergence observed in monthly timeframe
Weekly Chart Analysis:
- Supply zone has been invalidated by price trading above 246-250 Levels
- Stock is now in an active swing trade setup
- Expected Immediate 10 to 15% Move Swing Setup.
Investment Status:
The stock presents a compelling "Investment Double" opportunity, with the previous high broken and a higher high confirmed on the monthly chart. The pattern suggests significant upside potential after a period of consolidation.
Price Targets
Short-term Swing Trade: Potential move of 15-20% from current levels
Medium to Long-term Targets:
- ₹306 (Critical breakout level)
- ₹339
- ₹356
- ₹381
- ₹427++++
A decisive close above ₹306 will trigger momentum toward higher Fibonacci-based targets.
Risk Consideration
Expect a consolidation period of approximately one month following Doji or inside bar formations before the next major move materializes.
Conclusion
Shalby Ltd presents a strong technical setup with multiple timeframe confirmation. The invalidation of the supply zone and monthly breakout suggest the stock is positioned for a sustained upward movement. Traders should monitor the ₹306 level closely for breakout confirmation.
Disclaimer: Charts shared only for Educational purpose only. Its not a trade recommendation. Do your own analysis to survive in Trading for a longer run.
Current Price: 264.50
Key Technical Signals
Bullish Confirmation from Multiple Timeframes:
- Monthly chart shows a confirmed range breakout with uptrend validation
- Previous high broken on monthly chart, establishing higher highs
- Powerful RSI Bullish Divergence observed in monthly timeframe
Weekly Chart Analysis:
- Supply zone has been invalidated by price trading above 246-250 Levels
- Stock is now in an active swing trade setup
- Expected Immediate 10 to 15% Move Swing Setup.
Investment Status:
The stock presents a compelling "Investment Double" opportunity, with the previous high broken and a higher high confirmed on the monthly chart. The pattern suggests significant upside potential after a period of consolidation.
Price Targets
Short-term Swing Trade: Potential move of 15-20% from current levels
Medium to Long-term Targets:
- ₹306 (Critical breakout level)
- ₹339
- ₹356
- ₹381
- ₹427++++
A decisive close above ₹306 will trigger momentum toward higher Fibonacci-based targets.
Risk Consideration
Expect a consolidation period of approximately one month following Doji or inside bar formations before the next major move materializes.
Conclusion
Shalby Ltd presents a strong technical setup with multiple timeframe confirmation. The invalidation of the supply zone and monthly breakout suggest the stock is positioned for a sustained upward movement. Traders should monitor the ₹306 level closely for breakout confirmation.
Disclaimer: Charts shared only for Educational purpose only. Its not a trade recommendation. Do your own analysis to survive in Trading for a longer run.
Related publications
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.
Related publications
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.