Uno Minda: Increase in Volume, But Can Price Break Free?
Technical Analysis (Weekly Chart):
Volume Increase: Recent trading sessions have shown a notable rise in volume, indicating heightened investor interest.
Price Compression: Despite the increased volume, the stock's price has remained within a narrow range, suggesting consolidation.
Support Level: The stock has established a support level around ₹1,000, which has been tested multiple times in recent weeks.
Resistance Level: Resistance is observed near ₹1,105, a level the stock has approached but struggled to surpass.
Other resistance levels: 1135 | 1180 | 1254
Keep in mind:
Nifty remains in a correction phase. A deeper market correction could drag the stock price down (900-925), even if its current technicals suggest upward potential.
Disclaimer:
This analysis is intended for educational purposes and is not a recommendation to buy. It is important to learn how to recognize and understand patterns in stock movements.
Volume Increase: Recent trading sessions have shown a notable rise in volume, indicating heightened investor interest.
Price Compression: Despite the increased volume, the stock's price has remained within a narrow range, suggesting consolidation.
Support Level: The stock has established a support level around ₹1,000, which has been tested multiple times in recent weeks.
Resistance Level: Resistance is observed near ₹1,105, a level the stock has approached but struggled to surpass.
Other resistance levels: 1135 | 1180 | 1254
Keep in mind:
Nifty remains in a correction phase. A deeper market correction could drag the stock price down (900-925), even if its current technicals suggest upward potential.
Disclaimer:
This analysis is intended for educational purposes and is not a recommendation to buy. It is important to learn how to recognize and understand patterns in stock movements.
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.