MRPL AnalysisTHIS IS MY CHART OF THE WEEK PICK
FOR LEARNING PURPOSE
MRPL- The current price of MRPL is 148.95 rupees
I am going to buy this stock because of the reasons as follows-
1. It's retesting the zone which acted as a great resistance in 2007 as well as 2017. So it's a quite old level of interest and now, that zone can act as good support.
2. It got a good buying force in 2023-2024 and went up by almost 450+% and then went into correction. In last few weeks, it has moved up by 50% and then went into small correction.
3. It is showing better relative strength as it stood strong in volatile times including last few weeks.
4. The risk and reward is favourable.
5. The stock has very small free float which is better for some good move. Promoters have got some great holding (mostly government backed)
6. Another good part- The overall sector has shown some decent strength and have good momentum.
I am expecting more from this in coming weeks.
I will buy it with minimum target of 35-40% and then will trail after that.
My SL is at 127.45 rupees.
I will be managing my risk.
Chart Patterns
The Nifty's last closing was at 26046. The Nifty's last closing was at 26046. The positive aspect of this closing is that the Nifty is bouncing back from 25700, something it has been doing for the past 7 weeks. There's an invisible line at 25700 that is acting as support. God forbid, if 25700 is breached, we might find support at 24700. If the decline continues below 24700, we have the 23825 volume-weighted price support, which is considered a very strong support level. However, as long as 25700 is not broken, we won't consider a downward movement. How high can it go? 28200 for today. As time progresses, the targets will change. For today, the target is 28200. This is the assessment for the Nifty today, December 14, 2025.
Dalbharat Daily: Trend Pullback to Supply – 1:4 RR Swing on DeckDalbharat has completed a clean corrective slide back into dynamic EMA support after a strong prior up‑leg, offering a fresh long setup aiming toward the earlier supply belt near 2,450. This chart outlines the demand zone, protective stop area and high reward‑to‑risk target window for positional swing traders in the cement space.
#Dalbharat #DALBHARAT #PriceAction #SwingTrading #TechnicalAnalysis #NSEStocks #StockMarketIndia #PullbackTrading #SupplyDemand #PriceActionTrading #TradingViewIndia #SwingTradeSetup #ChartAnalysis
Ambuja Cements Daily: Demand Zone Defense & Mean‑Reversion PlayAmbuja Cements is holding a key demand block after an extended drift down, with price defending previous support and hinting at a bounce back toward the 555–570 supply belt. This chart marks the demand zone, invalidation area and upside RR window for swing traders eyeing a cement sector recovery leg.
#AmbujaCements #AMBUJACEM #PriceAction #SwingTrading #TechnicalAnalysis #NSEStocks #StockMarketIndia #DemandZone #MeanReversion #PriceActionTrading #TradingViewIndia #SwingTradeSetup #ChartAnalysis
MRPL Steep Pullback into Investment Zone – Bounce Play on RadarMRPL has slid in a tight corrective channel right back into the prior investment breakout zone, where price is testing clustered EMAs and horizontal support with a favourable 1:3 type risk–reward toward the 185–190 zone. This chart highlights the liquidation drop, fresh swing entry area and upside projection for traders betting on a swift relief rally.
#MRPL #MangaloreRefinery #PriceAction #SwingTrading #TechnicalAnalysis #NSEStocks #StockMarketIndia #PullbackTrading #ChannelTrading #PriceActionTrading #TradingViewIndia #SwingTradeSetup #ChartAnalysis
CCL Products Daily: Channel Pullback to Blast‑OffCCL Products has bounced sharply from previous support after a controlled pullback channel, reclaiming key EMAs and launching a fresh impulsive leg toward new highs with a clearly defined risk box below 950. This setup showcases the earlier investment base, tight stop zone and wide upside target for positional traders riding the next momentum swing.
#CCLProducts #CCL #PriceAction #SwingTrading #TechnicalAnalysis #NSEStocks #StockMarketIndia #ChannelBreakout #MomentumTrading #PriceActionTrading #TradingViewIndia #SwingTradeSetup #ChartAnalysis
Eternal Limited Daily: Swing Re‑Entry From Demand ZoneEternal Limited is retesting a strong swing entry demand zone after a sharp channel drop, with price stabilising near the 200 EMA and showing signs of a potential bounce back into the previous ascending channel. This chart maps out the demand box, risk zone and upside targets toward 330–335 for swing traders tracking a mean‑reversion move.
#EternalLimited #ETERNAL #PriceAction #SwingTrading #TechnicalAnalysis #NSEStocks #StockMarketIndia #DemandZone #ChannelTrading #PriceActionTrading #TradingViewIndia #SwingTradeSetup #ChartAnalysis
Aarti Pharmalabs Daily: Demand Zone Reclaim & Breakout HuntAarti Pharmalabs has snapped back from a major swing demand zone with a strong bullish candle, reclaiming key EMAs and setting up a clean long opportunity with tight risk below support and a wide upside range toward previous supply. This chart highlights the demand‑to‑supply path, RR map, and volume + RSI confirmation for positional swing traders watching for continuation.
#AartiPharmalabs #AARTIPHARMA #PriceAction #SwingTrading #TechnicalAnalysis #NSEStocks #StockMarketIndia #DemandZone #BreakoutTrading #PriceActionTrading #TradingViewIndia #SwingTradeSetup #ChartAnalysis
JBCHEPHARM: Breakout Loading......JBCHEPHARM looks ready for an upside continuation move after a healthy consolidation. Price is still holding above key moving averages on the daily chart, indicating that the broader uptrend remains intact despite the recent correction from the 2024 highs. If price breaks above 1850 levels, a strong move can be expected towards All Time Highs.
Disclaimer: This is not a buy/sell recommendation. Please do your due diligence before investing.
CRISIL - Falling Wedge into Monthly Demand Zone – High RRCRISIL is grinding lower inside a clear falling channel and now testing a major monthly controlling demand zone around the round number support, with confluence of EMAs, volume divergence and a defined swing risk–reward map. This analysis highlights the potential reversal area, stop region and trail target for positional traders watching for a trend change in 2026.
#CRISIL #PriceAction #SwingTrading #TechnicalAnalysis #IndianStocks #NSE #StockMarketIndia #SupplyDemand #PriceActionTrading #TradingViewIndia #SwingTradeSetup #ChartAnalysis
Overtrading Gold – Biggest Account KillerOvertrading Gold – Biggest Account Killer
🧠 What Overtrading REALLY Means in Gold
Overtrading is not just trading too often — it’s trading without edge, patience, or contextual alignment.
In XAUUSD, overtrading usually looks like:
Multiple entries in the same range
Chasing price after impulsive candles
Trading every wick, every breakout, every news spike
📌 Gold gives the illusion of opportunity every minute — but institutions trade very selectively.
🧨 Why Gold Is the Perfect Trap for Overtraders
Gold is engineered (by behavior, not conspiracy) to punish impatience 👇
🔥 Extreme volatility
🔥 Fast candles & long wicks
🔥 Sudden reversals
🔥 News-driven manipulation
🔥 Liquidity sweeps above & below range
💣 Result?
Retail traders feel forced to trade — and end up trading against structure and liquidity.
🧩 The Overtrading Cycle (Account Destruction Loop)
Most gold traders repeat this cycle unknowingly ⛓️
1️⃣ Enter early (no confirmation)
2️⃣ Stop-loss hit by wick
3️⃣ Re-enter immediately (revenge)
4️⃣ Increase lot size
5️⃣ Ignore bias & HTF context
6️⃣ Emotional exhaustion
7️⃣ Big loss → account damage
📉 This cycle has nothing to do with strategy — it’s pure psychology.
🧠 Why Strategy Stops Working When You Overtrade
Even a 60–70% win-rate strategy will fail if:
❌ Trades are taken outside optimal time
❌ Entries ignore higher-timeframe direction
❌ Risk increases after losses
❌ Rules are bent “just this once”
📌 Gold exposes discipline weakness faster than any other market.
⏰ Time Is the Hidden Edge in Gold
Gold does NOT move efficiently all day ⏱️
🟡 Asian Session → Range & traps
🟡 London Open → Liquidity grab
🟢 New York Session → Real direction
Overtraders:
❌ Trade Asian noise
❌ Enter mid-range
❌ Chase NY expansion late
Smart traders:
✅ Wait for liquidity first
✅ Trade after manipulation
✅ Enter once direction is clear
📉 Statistical Damage of Overtrading
Let’s talk numbers 📊
🔻 More trades = more spread & commission
🔻 Lower average R:R
🔻 Lower win probability
🔻 Higher emotional stress
🔻 Faster drawdowns
💡 One A-grade setup can outperform 10 random gold trades.
🧠 Psychology: The Real Root Cause
Overtrading is driven by internal pressure 👇
😨 Fear of missing out
😡 Anger after stop-loss
😄 Overconfidence after win
😴 Boredom during ranges
Gold feeds emotions — and then punishes them.
📌 Institutions wait. Retail reacts.
🛑 How Professionals Control Overtrading
Real solutions — not motivational quotes 👇
✅ Maximum 1–2 trades per session
✅ Trade only at predefined time windows
✅ Fixed risk per trade (no exceptions)
✅ Daily stop after 2 losses max
✅ Journal every impulsive entry
📘 If it’s not planned before price moves, it’s emotional.
🏆 Golden Rule of XAUUSD
💎 Gold is not hard because it’s random
💀 Gold is hard because it exposes impatience
You don’t need more trades.
You need more discipline.
📌 Final Truth
Most XAUUSD accounts don’t blow because of:
❌ Bad indicators
❌ Bad analysis
❌ Bad strategy
They blow because of overtrading driven by emotion.
📉 Overtrading is the biggest account killer in gold trading.
ROLEXRINGS: Trendline BO & IPO Base Bounce, Chart of the WeekFrom IPO Highs to back to IPO Base: Can Rolex Rings Break the Downtrend After 64% Crash?
After Promoter Buying and Decent Mangment Commentary Post Q2 FY26 Amid US Tariff, Let's Decode in This Week's "Chart of the Week"
As per the Latest SEBI Mandate, this isn't a Trading/Investment RECOMMENDATION nor for Educational Purposes; it is just for Informational purposes only. The chart data used is 3 Months old, as Showing Live Chart Data is not allowed according to the New SEBI Mandate.
Disclaimer: "I am not a SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
Price Action:
- The stock has witnessed a severe downtrend from its peak of approximately ₹280 in mid-2024 to a low of ₹99.48, representing a decline of approximately 64% from peak levels
- The chart displays a classic bearish trend characterized by lower highs and lower lows throughout 2024 and into 2025
- Price action shows the stock trading near its 52-week lows, with current price around ₹111 after bouncing from the ₹99.48 IPO Base
Trendline Analysis:
- A descending trendline has been drawn connecting the highs from mid-2024 through late 2025
- This trendline has acted as strong dynamic resistance, rejecting price advances multiple times
- The trendline currently extends downward toward the ₹100-110 zone, suggesting continued bearish momentum unless broken decisively
- The stock broke this trendline with good volumes recently, as evidenced by the spike in volume to 76.29M from an average of 6.23M.
Volume Spread Analysis:
- Average volume: 6.23M shares
- Recent surge: 76.29M shares (more than 12x average)
- Volume spike coincides with the trendline breakout attempt and bounce from lows
- This extraordinary volume surge suggests significant institutional or promoter buying interest
- Volume pattern shows accumulation at lower levels, which is a positive sign
- Higher volumes during bounce from support indicate strong conviction in buyers
Base Formation & Support Levels:
Key Support Zones:
- Primary Support (IPO Base): ₹98-120 zone - This was the IPO issue price and has historical significance as a psychological support level
- Immediate Support: ₹99.48 - The recent low established, which acted as a strong bounce point
- Secondary Support: ₹100 - Round number psychological support
- A potential base formation is emerging in the ₹99-120 range after months of decline
Resistance Levels:
- Immediate Resistance: ₹130-140 zone (previous support turned resistance)
- Intermediate Resistance: ₹160-170 (multiple rejections in this zone during the downtrend)
- Major Resistance: ₹180-200 zone (previous consolidation area)
- The descending trendline acts as dynamic resistance currently around ₹150-160
- Ultimate Resistance: ₹240-280 zone (peak highs from 2024)
Technical Patterns:
Descending Channel:
- The stock has been trading within a well-defined descending channel since mid-2024
- Lower boundary of channel approximately at ₹100, upper boundary following the drawn trendline
- Recent price action suggests potential channel breakout attempt
Double Bottom Formation (Potential):
- The chart shows a potential double bottom pattern forming around the ₹100 level
- First bottom at ₹99.48 (recent low)
- Second bottom would need to be confirmed near similar levels with higher low
- Neckline resistance would be around ₹140-150 zone
- This pattern, if confirmed, could signal trend reversal
Falling Wedge (Forming):
- The narrowing range between descending trendline and support suggests a falling wedge pattern
- Falling wedges are typically bullish reversal patterns
- Breakout above the trendline with volume could trigger significant upside
My Key Technical Observations:
- The stock has been in a sustained downtrend for approximately 18 months
- Recent price action shows signs of exhaustion at lower levels
- Trendline break with massive volume is a significant development
- The stock is oversold and due for a technical bounce
- Risk-reward ratio favors long positions from current levels with stop loss below ₹99
My Technical Outlook:
Bullish Case:
- Trendline breakout with exceptional volume
- Support holding at IPO base (₹118) and recent low (₹99.48)
- Potential reversal patterns forming
- Oversold conditions on longer timeframes
- Smart money accumulation evident from volume analysis
Bearish Case:
- Long-term downtrend still intact until sustained breakout
- Multiple resistance levels overhead
- Weak fundamental performance in recent quarters
- Sectoral headwinds persist
Sectoral and Fundamental Backdrop:
Company Overview:
NSE:ROLEXRINGS , headquartered in Rajkot, Gujarat, is among India's leading manufacturers of forged and machined bearing rings and automotive components in the private sector. The company boasts a forging capacity of 144,750 metric tons per annum (MTPA) and an annual machining capacity of 73 million pieces. It serves clients across India and 15 international markets spanning North America, Europe, and Africa.
Product Portfolio:
- Bearing Rings (approximately 45-47% of revenue): Ball bearing rings, cylindrical, tapered, and spherical types for automotive, railways, industrial, and wind turbine applications
- Automotive Components (approximately 53-55% of revenue): Transmission components (gear blanks, ring gears, sun and pinion, shafts), engine components (pulleys, cam lobes), chassis components (wheel hubs, Gen2 and Gen3 bearing components, output shafts, CVJ components), and exhaust system components
Sector Analysis: Auto Components Industry:
Industry Challenges (2025):
The auto components sector has faced significant headwinds through 2025, with demand moderation across passenger vehicles, commercial vehicles, and two-wheelers impacting component manufacturers. The sector is experiencing increased competitive intensity, with OEMs exerting pressure on suppliers to reduce costs while simultaneously demanding higher quality standards and faster delivery cycles.
Growth Drivers:
- Domestic automobile demand remains relatively robust
- Electric vehicle (EV) and hybrid segment growth (company derives 8% of FY25 revenue from this segment)
- China+1 strategy benefiting Indian manufacturers
- Localization push by global OEMs
Financial Performance Analysis:
Recent Performance (Q2 FY26):
Rolex Rings reported net sales of ₹271.38 crores in Q2 FY26, marking a 6.93% sequential decline from ₹291.58 crores in Q1 FY26 and a 9.62% year-on-year drop from ₹300.27 crores in Q2 FY25. Net profit declined 9.94% quarter-on-quarter to ₹44.34 crores from ₹49.16 crores in Q1 FY26.
Margin Pressure:
Operating margins (excluding other income) have declined from a peak of 22.89% in June 2024 to 20.21% in September 2025, a contraction of 268 basis points over five quarters. This margin compression reflects pricing pressures and unfavorable product mix shifts.
Profitability Metrics:
- PE Ratio: 19.97
- PB Ratio: 3.24
- ROE: 17.48% (latest quarter, down from historical average of 22.12%)
- ROCE: 26.44%
Key Fundamental Challenges:
US Tariff Impact:
While the company had previously guided for 14-16% top-line growth for FY26, management has now moderated this to "early teen growth" if US tariffs persist, with higher growth expected in FY27. The company notes that US customer-related volumes have slowed considerably until there is clarity on the final trade deal. However, there's a 25% US custom duty waiver in major portion of exports to US, effective from November 1, 2025.
Export-Domestic Mix:
- Exports: 51-52% of revenue
- Domestic: 48-49% of revenue
- Bearing rings export business facing subdued global demand, particularly in industrial segment
- Auto components export business showing resilience, especially in Europe and Mexico
Positive Developments:
Strong Order Book:
The company has Rs 1.75 billion of order inflows expected to flow from Q2FY26, which can be ramped up to Rs 2.5 billion in FY27. The management expects 15% blended growth for FY26 and 10% growth guidance for FY27.
Operational Excellence:
The significant EBITDA margin expansion in Q1FY26 to 26.5%, up from 21.9% in Q4FY25, demonstrates management's strong grip on cost control and operational efficiencies. The company has successfully commissioned a 9MW solar plant (expected to be operational by December 2025), adding to existing 17.08MW capacity, which aids margin improvement.
Balance Sheet Strength:
The company has transitioned to a net cash position from previous debt levels, demonstrating strong cash management. For FY26, management has guided a much lower capital expenditure of ₹30-35 crore, which can easily be funded by internal accruals.
Strategic Positioning:
Market Position:
Rolex Rings ranks top 5 amongst 130 active competitors in the forging and machining space. The company is benefiting from the China+1 theme, receiving improved traction from the US and Europe as an alternative to Chinese suppliers.
Customer Diversification:
The company is actively diversifying its customer base and expanding into value-added products for EVs/Hybrids which require complex machining and fetch approximately 200 basis points higher margins over standard offerings.
Strengths:
- Strong domestic market presence
- Diversified product portfolio across bearing rings and auto components
- Healthy order book visibility for FY26-27
- Improved operational efficiency and margin trajectory (when excluding tariff headwinds)
- Net cash position providing financial flexibility
- Competitive positioning in forging capacity
Risks:
- Export market volatility due to global trade tensions and tariffs
- Sustained margin pressure from OEM cost reduction demands
- Subdued growth in commercial vehicle and industrial segments
- High dependence on automotive sector cyclicality
- Revenue degrowth trend in recent quarters
Valuation Perspective:
At current levels around ₹111, the stock trades significantly below its historical highs and near book value. While near-term challenges persist, the long-term structural growth story of India's automotive sector, coupled with the company's strong market position and improving operational metrics, presents a compelling risk-reward opportunity for patient investors.
Management Outlook:
The company anticipates recovery in bearing rings business by Q3-Q4 FY26 and expects full recovery in export markets to take four to six quarters. The management remains confident about achieving EBITDA margins of 23.5-24% in FY26 and over 24% in FY27, supported by improved operational leverage, product mix enhancement, and benefits from renewable energy investments.
Full Coverage on my Newsletter this Week
Keep in the Watchlist and DOYR.
NO RECO. For Buy/Sell.
📌Thank you for exploring my idea! I hope you found it valuable.
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✍️COMMENT below with your views.
Meanwhile, check out my other stock ideas on the right side until this trade is activated. I would love your feedback.
As per the Latest SEBI Mandate, this isn't a Trading/Investment RECOMMENDATION nor for Educational Purposes; it is just for Informational purposes only. The chart data used is 3 Months old, as Showing Live Chart Data is not allowed according to the New SEBI Mandate.
Disclaimer: "I am not a SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
Weekly analysis of Nifty...Here is weekly analysis of Nifty...
Please do follow me if you liked the idea💡...
Disclaimer ⚠️: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) and check with your financial advisor before making any trading decisions ⚠️⚠️.
ANANDRATHI Price ActionANANDRATHI trades at elevated valuations with strong earnings growth but is showing short-term weakness after recent peaks, making it a hold for positional traders with resistance ahead.
## Current positioning
Price hovers around 2900-2950 after a +1.9% daily gain, but sits below the 50-day MA near 3015, signaling mild distribution pressure in what remains a multi-year uptrend from 1600 lows.
## Momentum & structure
Bullish bias intact with price above 200-day MA (2440), healthy EPS growth supporting 70x P/E, but RSI cooling from overbought suggests consolidation or pullback toward 2800-2850 support before next leg.
Part 2 Ride The Big Moves Risk Management in Option Trading
Successful option trading depends heavily on risk management:
Position sizing
Defined stop-loss
Avoid over-leveraging
Understand implied volatility
Trade liquid instruments
Never risk large capital on naked option selling without protection.
$TAO Reset Complete? This One Level Decides the Next 5xGETTEX:TAO : High-Timeframe Technical Outlook
GETTEX:TAO has already delivered ~200% upside from earlier structure. From the recent swing high near $539, price has corrected ~50% and is now ~65% below ATH, A normal reset after an impulsive expansion.
Key Structure & Levels
Price is currently trading above the 0.618 Fibonacci retracement at ~$262, which is a critical HTF support.
As long as $262 (0.618 fib) holds on a daily/weekly closing basis, the structure remains bullish, with potential for continuation toward new ATH.
Downside Scenarios
If $262 fails, next major support lies at the 0.786 Fibonacci around ~$215, a historically strong reaction zone.
Bullish Order Block: $263 – $228
→ Confluence of fib support + demand zone = high-probability accumulation area.
Invalidation / Risk
A clean breakdown and acceptance below $228 would invalidate the current bullish structure.
In that case, probability increases for a deeper move, potentially sub-$100 in a worst-case market-wide risk-off scenario.
Strategy:
🔹 This is not a one-shot entry zone, It’s a slow accumulation range.
🔹 Risk-managed scaling is favored while price holds above the order block.
🔹 Momentum expansion during a confirmed alt-season opens upside targets in the $1,000 – $2,000 range over the full cycle.
🔹 HTF trend remains constructive above $262.
🔹 Volatility is part of cycle structure. Trade levels, not emotions.
🔹 Not financial advice. Technical structure based.
Part 1 Ride The Big Moves Hedging Strategies Using Options
Protective Put
A protective put involves buying a put option against an existing stock position.
Purpose: Portfolio insurance
Cost: Premium paid
Benefit: Downside protection
Used by long-term investors during uncertain markets.
Collar Strategy
A collar combines:
Long stock
Long put
Short call
This caps both upside and downside and is useful during volatile periods.
NATIONALUM Price ActionNational Aluminium Company Ltd (NATIONALUM) closed today at ₹213.87. The stock rallied strongly, rising nearly 5% during the session and trading in a range between ₹204.20 and ₹215.40. Today’s large volume signals solid investor participation and bullish momentum, while the price sits near the upper end of the daily band.
Technically, NATIONALUM remains in a clear short-term uptrend, outperforming its sector with recent moving average crossovers strengthening the bullish case. The key support is now located near ₹204, which was today’s low, and resistance lies at ₹224—the stock’s upper circuit limit. Momentum indicators are in positive territory, reflecting strong buying interest, but short-term traders should be aware that overbought readings could invite some consolidation or profit booking.
On the fundamental side, the company’s financials show robust quarterly revenue and profit growth, with strong operating margins and minimal debt. As a major aluminum producer, NATIONALUM benefits from stable commodity prices and high export demand. Overall sentiment is upbeat, suggesting potential for further gains if market conditions remain supportive and the company sustains its operational efficiency.
Hindustan Copper at the verge of breakout on monthly chart Hindustan Copper is in a strong uptrend and is currently testing a long-term descending trendline resistance on the monthly chart.
The RSI and price structure hint at a crucial inflection zone for the next major move.
Key observations
Price has rallied to around 382, exactly into a decade‑long falling trendline drawn from the 2010 high, making 380–400 a major resistance zone.A decisive monthly close above this trendline would signal a structural breakout, potentially opening room toward previous supply levels closer to 480–500.Recent candles show strong bullish momentum with higher lows and expanding ranges, reflecting aggressive buying interest after the last correction.
Monthly RSI is near 65–70, indicating strong momentum but also an overbought region where profit‑booking or sideways consolidation is common.
Volume has picked up during the latest leg of the rally, confirming participation behind the move and validating the significance of this resistance test.
360ONE – Strong Resistance Above, Support Still HoldingIn this chart, price has tried multiple times to move above the same upper zone, but each time it failed to sustain there. After these attempts, price came down sharply with large gap-down moves. This clearly shows strong selling pressure and supply at that level.
On the downside, price is still respecting the rising support line. Whenever price moves lower, buyers are stepping in near this support and pushing it back up. So currently, price is trapped between strong resistance above and rising support below.
This puts the stock in a decision phase. Strength will be confirmed only if price is able to move above the resistance and hold there. Until that happens, caution is needed.
This is also a good example of why one should avoid blindly buying near resistance. It is important to understand the price action and the situation on the chart, rather than taking impulsive decisions. Reading how price behaves at key levels always gives better clarity.
I share only selective charts. The focus is on understanding price behaviour, not blind entries. Quality over quantity.






















