After multiple failed attempts over the last couple of years, the stock has finally closed above a major resistance zone on strong volume.
What stands out:
• Multi-year rounding base
• Multiple resistance rejections absorbed
• Breakout backed by above-average volume
• Resistance around ₹62–63 now turns into the key support
Game plan:
✔ Wait for a healthy retest of ₹62–65.
✔ If buyers defend the zone, the probability of continuation improves.
✔ A weekly close below the support zone would invalidate the setup.
#Note: Monthly close above green line is important for this setup otherwise view is invalid.
Patience often pays more than chasing breakouts.
This is my personal chart study, not financial advice.
What stands out:
• Multi-year rounding base
• Multiple resistance rejections absorbed
• Breakout backed by above-average volume
• Resistance around ₹62–63 now turns into the key support
Game plan:
✔ Wait for a healthy retest of ₹62–65.
✔ If buyers defend the zone, the probability of continuation improves.
✔ A weekly close below the support zone would invalidate the setup.
#Note: Monthly close above green line is important for this setup otherwise view is invalid.
Patience often pays more than chasing breakouts.
This is my personal chart study, not financial advice.
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.