Supreme Industries Ltd

3 days ago

The chart for Supreme Industries Ltd suggests the formation of an Ascending Triangle, a bullish continuation pattern. The stock is trading near an upward-sloping support trendline, with resistance around ₹6,000, indicating consolidation before a potential breakout. The declining volume aligns with the pattern, and the RSI at 65 shows strength without being overbought, leaving room for further upside. A buy recommendation is suggested at current levels of ₹5,050 to ₹5,200 or on confirmation of a breakout above ₹6,000. The target price can be set at ₹8,000, calculated by adding the triangle’s height (₹2,000) to the breakout level. To manage risk, a stop-loss should be placed below ₹4,800. A breakout with strong volume will confirm the bullish trend and offer a favorable risk-reward setup.