DCXINDIA Breakout next stop RS 345?**Technical Pattern & Structure:**
Breakout Observed: The stock has **broken above a horizontal resistance zone** (293-294), which had acted as a cap multiple times in the past.
Chart Pattern: Appears to be a **broadening wedge** or **expanding triangle** (purple trendlines), within which price had been fluctuating for months.
Consolidation Zone: Between ₹270–₹300. Price broke out of this zone with strength.
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**Support and Resistance:**
* **Immediate Support:** ₹310 (previous resistance turned support)
* **Strong Support:** ₹275 (bottom of recent consolidation)
* **Next Resistance Levels:**
* ₹345-347 (Trendline Intersction)
* ₹375-380 (strong horizontal resistance)
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**Indicators:**
* **RSI (14):** \~68.47
* Approaching overbought territory but still has room for upside.
* Indicates strong bullish momentum but caution is needed for potential short-term correction.
* **Volume Analysis:**
Volume surged on the breakout day, confirming the strength and validity of the move.
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**Caution:**
* RSI nearing overbought could cause short-term pullbacks.
* Profit booking may occur near the ₹345–₹350 range.
* Overall market sentiment should also be considered.
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