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Lupin Breakout: A New Highs Journey Begins!Hello everyone, i hope you all will be doing good in your life and your trading as well. Today i have a Lupin stock which has caught the market's attention with a powerful breakout from its resistance zone. Backed by increasing volume and bullish momentum, this pharmaceutical giant is showing signs of a potential rally. Let's dive into the chart to explore the opportunities. 1. Chart Overview The chart appears to be for LUPIN LTD on a daily timeframe (1D). The key focus is on price action with clearly defined support and resistance zones. Indicators used include the RSI (Relative Strength Index) at the bottom of the chart. The price is currently trading at ₹2,311.35, up by +3.75% for the day. 2. Key Levels Highlighted Support Zone (Grey Band) The support zone is marked around the ₹2,000–₹2,100 level, acting as a base where buyers consistently step in. The price bounced off this zone multiple times, confirming its strength. Resistance Zone (Grey Band) The resistance zone is marked around ₹2,300–₹2,350, where sellers have historically prevented price from moving higher. The recent breakout indicates strong bullish momentum. Stop Loss (₹2,222) A stop loss is suggested at ₹2,222, slightly below the resistance zone. This is to manage risk in case the breakout fails and the price reverses. Targets 1st Target: ₹2,490 : This is a realistic level based on previous price action and the measured move. 2nd Target: ₹2,678: This is a more optimistic target if the price continues its uptrend. 3. Price Action Breakout: The price has broken above the resistance zone with strong bullish momentum, as seen by the large green candle and increased volume. This breakout suggests a potential continuation of the uptrend. 4. Volume Analysis Volume Surge: There is a noticeable increase in volume during the breakout, indicating strong buying interest. Volume confirmation is a good sign that the breakout is genuine. 5. RSI Analysis Current RSI: 71.94 The RSI is above 70, indicating an overbought condition. While this signals strong momentum, it may also suggest caution as a short-term pullback is possible. Previous Bearish Divergences: Marked in red, showing past instances where the RSI was high but price reversed. Bullish Confirmation: Marked in green, showing that RSI and price are aligned with the current uptrend. 6. What Does This Mean? The breakout above resistance indicates a potential shift in market sentiment, favoring buyers. The targets suggest significant upside potential, but the RSI warns of possible short-term profit booking. 7. Possible Outcomes Bullish Scenario: If the price holds above the resistance zone and sustains higher levels, it could move towards the 1st and 2nd targets. Bearish Scenario: If the price closes below ₹2,222 (stop loss), it may revisit the support zone around ₹2,000–₹2,100. 8. Suggested Actions Entry: On sustained breakout above ₹2,311 (current level). Stop Loss: Strictly at ₹2,222 to minimize losses. Profit Booking: Gradual booking at ₹2,490 and ₹2,678. Lupin has broken out of its resistance zone with strong momentum, signaling a potential uptrend. With solid fundamentals and technical confirmation, the stock looks poised for higher levels. Keep an eye on the targets and manage your risk with the defined stop-loss. Happy Trading! Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:LUPINLong
by TraderRahulPal
7
ICICIBANK LOOKING GOOD TO SOAR HIGHICICIBANK is currently trading at 1328.75, showcasing a strong breakout and successful retest at a critical level, where the previous resistance has now turned into support. The stock has consistently performed exceptionally well since its inception, supported by great fundamentals and a solid technical setup. With this bullish momentum, a significant rally could be on the horizon in the coming weeks. The levels and targets for both short-term and long-term trades are clearly defined and promising. P.S. The long-term outlook extends until the end of next year.
NSE:ICICIBANKLong
by AlphaTradesTM
Stock Market Analysis Report: IRCON International Limited Introduction Hello, fellow traders! Buckle up because IRCON International Limited is on the move, and it’s picking up speed faster than a bullet train! 🚄 Let's dive into the technical analysis and see what the charts are telling us about this infrastructure giant. Price Action Overview Chart Analysis Current Price: ₹307.75 Daily High: ₹315.80 Daily Low: ₹286.50 Volume: 116.643M Key Technical Indicators Breakout: The stock has just experienced a significant breakout. Support Levels: Identified at ₹175.67 (Support 1), ₹214.03 (Support 2), and ₹266.25 (Support 3). Massive Volume Buildup: Indicating strong buying interest. Detailed Analysis Breakout Breakout Level: ₹307.75 Implications: This breakout suggests a strong bullish sentiment, indicating the potential for further upward movement. Volume Confirmation: The breakout is supported by a massive volume spike, which adds credibility to this move. Support Levels Support 1: ₹175.67 - This is a long-term support level, providing a solid foundation. Support 2: ₹214.03 - A medium-term support level, crucial for maintaining bullish momentum. Support 3: ₹266.25 - The most recent support level, pivotal in the current trend. Massive Volume Buildup Volume Trend: The significant increase in volume suggests strong market interest and participation. Significance: High volume during a breakout indicates robust buying pressure, often leading to sustained price increases. Price Targets Immediate Resistance: ₹325.00 - The next level to watch for potential resistance. Medium-Term Target: ₹350.00 - A psychological level and potential profit-taking zone. Long-Term Target: ₹400.00 - If the bullish momentum continues, this could be a feasible target. Conclusion IRCON International Limited has shown a powerful breakout with strong volume support, indicating a bullish trend. With significant support levels in place and increasing market interest, this stock could be on a solid upward trajectory. Keep an eye on the immediate resistance at ₹325.00 and watch the volume closely for further clues. Happy trading, and may your portfolio be as strong as IRCON’s infrastructure projects! 🏗️📈 Disclaimer This analysis is based on historical data and chart patterns. Always do your own research and consider your risk tolerance before making any investment decisions.
NSE:IRCONLong
by TRADING-NASA
RVNL - Bullish Consolidation Breakout with VolumesNSE: RVNL is closing with a bullish consolidation breakout candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 15% to 25% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:RVNLLong
by BrahmaBull31
20 Feb ’24 — Another milestone, 22000 conquered - Nifty50 flyingNifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “On the 63 mts time frame, Nifty looks strong and pumped up. We continue to hold on to our bullish stance, if BN or IT index joins N50 — the build-up in momentum will be a treat to watch.” 4mts chart Exciting times as Nifty50 has conquered a new milestone “22000” and BankNifty just turned bullish today. At present, both N50 and BN are facing northwards and that usually is a sign of further momentum build-up. Having said that, SPX and NDQ are trading negatively in the US with losses of 0.84 & 1.39% respectively. FII sell value for today is 1335 crores and the other European markets are trading mostly in RED or flat. So we are in a unique position where Indian markets are looking optimistic and roaring to go whereas global markets are a bit subdued. Unusually high inflows of SIP via domestic mutual fund AMCs are the primary reason we are staying afloat. Even after so much money making its way to the financial markets, we are in no way close to the bank's fixed deposit volume & volume growth. One thing we are not sure about is whether this money inflow is due to the blind trust in the current Govt’s fiscal policies, reforms, and the certainty to return to power. Or is this a structural change and India is truly becoming a financial powerhouse? If you look at the price action today by N50, we had a RED opening candle which was bought into by 10.15 and then we had one more round of selling between 13.31 to 13.59. But what stood out was the surge of 78 points in the last 30 minutes. It took out yesterday’s swing high and created the new ATH record. On the 63mts TF, N50 is still looking strong - we would keep our first support level(weak) at 22051 and the main support at 21913. With 2 days to go, will N50 take out the 22500 levels? Reply with your comments below. 63mts chart
NSE:NIFTYLong
by viswaram
4
06 Feb ’24 — Head and Shoulders Inverse forming on BankNifty?BankNifty Analysis - Stance Neutral ➡️ Is BankNifty bearish? - absolutely not. Is it bullish? It's too early to say. One thing is sure - there is some weakness impacting the banks. Are the unsecured loans haunting them? None of the balance sheets from the quarterly results are bleeding - but something is still bothering them. Today was a fine day for the banks to support Nifty’s rally - still, the banks decided to stay on the bench. 4mts chart One thing is sure, the fall looks like arrested (for now). If Nifty takes out the ATH without the support of the banks again, then it is some indication that the Information Technology players may have taken over as the new torch-bearers. There are exactly 6 NiftyIT companies in Nifty50 as there are 6 banks in BankNifty. NiftyIT weight is 14.18% vs 33% of BankNifty - definitely, BN has lost some ground and IT has gobbled it. 63mts chart The perfect Inverse Head and Shoulders pattern has not formed yet - we still have 20% of the move remaining. We will closely monitor if BN chooses to follow this path as it is a bullish sign. The first clue came in when BN defended its support at 44542, the 2nd came when 45399 was defended. Tomorrow is the weekly expiry and we hope to see some actions - at present, the OTM strikes are not that juicy - if BN decides to move, we could expect some mispricings to pop in. Algo Trading Our BankNifty algo trades ended today with a gain of Rs8121.
NSE:BANKNIFTY
by viswaram
JWL - Spinning Top with volumesNSE: JWL is closing with a bullish spinning top candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 11% to 20% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:JWLLong
by BrahmaBull31
METROPOLIS - Bullish Consolidation BreakoutNSE: METROPOLIS is closing with a bullish consolidation breakout candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 13% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:METROPOLISLong
by BrahmaBull31
DMART - Bullish Consolidation BreakoutNSE: DMART is closing with a bullish consolidation breakout candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 12% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:DMARTLong
by BrahmaBull31
FINEORG - Bullish Consolidation BreakoutNSE: FINEORG is closing with a bullish consolidation breakout candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 13% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:FINEORGLong
by BrahmaBull31
PARADEEP - Bullish Momentum BreakoutNSE: PARADEEP is closing with a bullish momentum breakout candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 12% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:PARADEEPLong
by BrahmaBull31
Bullish Flog & Pole B/O on DTF in ICILFriends, as our markets have given a positive breakout and closed above the previous life high on weekly closing basis. Therefore I am expecting this bullisness to continue for the comming months and thus we can see a good appriciation in the Midcap and Samallcap Stocks going ahead. Presenting a Fresh bullish Flag and Pole Breakout on Daily TF with good volume. One can create a fresh postion in the scrip at 206.95 with a stop loss of Rs. 193 for a target of Rs 242. Exit the position if the stop lss triggered on daily closing basis. The risk reward ratio for the trade is 1:2.5. Expecting a small favour from you to like, sahre and prmote the idea. Your comments are most welcome.
NSE:ICILLong
by raigvivek
Bullish Flag & Pole B/o in ShalbyA bullish Flag and Pole B/O has been seen on the Daily chart of NSE:SHALBY As per the current breakout structure of flag and pole one look in to it to create a fresh position at cmp with a SL 167 for first target of 197. Exit the position if the stop lss triggered on daily closing basis. The risk reward ratio for the trade is 1:2 Expecting a small favour from you to like, sahre and prmote the idea. Your comments are most welcome. The idea is for Educational Purpose only.
NSE:SHALBYLong
by raigvivek
MATIC on Bullish Broadening WedgeMATIC 15-min. Chart Analysis After Completing previous bullish cycle, MATIC again ready for next Bullish Trend, under the movements of Descending Right Angled Broadening Wedge Pattern, which is finally breakout on Bullish mode and major chances will be this time breakout previous 70 cent target within 24 hrs. cycle. But, before that, its last Bearish cycle is running and as per FIB Extension Trend line too, major chances to reach Lower-Low of 64-65 cents and Higher-High at 69-70 cents soon. Always #DYOR and Trade wisely by using #StopLoss at this volatile situations of Crypto market. Must LIKE & SHARE
MLong
by AskToRahulSirohi
PNBHousing looking bullishPNBHousing is in downtrend from 2017 and has been facing a weekly resistance near the trendline. It had given a breakout few weeks back but didn't sustain. However, stock has bounced back from 0.5 Fib levels and gave a weekly closing above the trendline as well as the 200 EMA(weekly) which is a bullish closing. 630 is an immediate resistance above which it can test the 675-750 levels in short to medium term. So, you can keep the stock in watchlist. Sharing this idea only for educational purposes and its my personal opinion.
NSE:PNBHOUSINGLong
by chartistamey