Technical Analysis:
Parameter Observation
Structure - Rounded base breakout (clean cup-type) above major EMAs
Trend- Bullish – Higher highs, higher lows
Breakout Type- Horizontal breakout from 550–555 consolidation range
Volume- Volume spike visible (392K vs 30D avg 237K) – ✓ CONFIRMED VOLUME
Moving Averages- Price above 10, 20, 50, 100, 200 EMAs – all stacked bullishly
RSI (14)- 65.41 – strong but not overheated
RS vs NIFTY (RSM)- Green and trending above 0 – relative strength confirmed
VWAP -Price strongly above VWAP – bullish confirmation
Sector -Auto Parts – showing rotation/momentum (Check peers: MOTHERSON, SONA)
🔽 Entry Zone
📍 ₹560 – ₹578
(Current close ₹572.90 – within perfect range)
🚫 Avoid Entry If
Price closes below ₹552 (EMA 10 & support zone)
Sharp gap-up above ₹590 without retest
🛡️ Stop-Loss (SL)
📉 ₹546 (EOD close basis)
(Just below breakout + minor swing low – tight but logical)
🎯 Target 1
📈 ₹610 (Previous high / ICICI report target)
🎯🎯 Target 2
📈 ₹648–660 (Longer-term swing extension zone + fib cluster)
Parameter Observation
Structure - Rounded base breakout (clean cup-type) above major EMAs
Trend- Bullish – Higher highs, higher lows
Breakout Type- Horizontal breakout from 550–555 consolidation range
Volume- Volume spike visible (392K vs 30D avg 237K) – ✓ CONFIRMED VOLUME
Moving Averages- Price above 10, 20, 50, 100, 200 EMAs – all stacked bullishly
RSI (14)- 65.41 – strong but not overheated
RS vs NIFTY (RSM)- Green and trending above 0 – relative strength confirmed
VWAP -Price strongly above VWAP – bullish confirmation
Sector -Auto Parts – showing rotation/momentum (Check peers: MOTHERSON, SONA)
🔽 Entry Zone
📍 ₹560 – ₹578
(Current close ₹572.90 – within perfect range)
🚫 Avoid Entry If
Price closes below ₹552 (EMA 10 & support zone)
Sharp gap-up above ₹590 without retest
🛡️ Stop-Loss (SL)
📉 ₹546 (EOD close basis)
(Just below breakout + minor swing low – tight but logical)
🎯 Target 1
📈 ₹610 (Previous high / ICICI report target)
🎯🎯 Target 2
📈 ₹648–660 (Longer-term swing extension zone + fib cluster)
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.