bombay dyeing made rounding bottom pattern and broke out and reached pre covid highs and is consolidating for few weeks now, if it breaks now can do the magics beautifully like its peers! also same is happening on monthly charts which can be useful to study!!!
Note: This is for educational purpose only.
There seems to be a bullish breakout with high volume. Moreover, rising volumes indicate demand. RSI is above 70 which indicates bullish momentum but this is overbought as well. You can buy now and in dips until the price comes back till resistance turned support.
Target of 83 based on the previous move between 27 May to 8 June. The Chart indicating a buy setup with a number 4 Green Candle, with a MACD convergence. Further, RSI indicates that the stock still has momentum as it is neither overbought or oversold. The price can be expected to reach the target around 23 to 24 June as per time analysis.
Price is in a consolidation (magenta lines) which in turn is within a bigger consolidation (marked by red lines).
Will the price have strength to hit the upper red line? Your guess is as good as mine...