EMUDHRA LTD highlights a breakout from from a consolidation zone1. Trend Overview
The stock appears to be consolidating after a prolonged Uptrend Current levels (960) suggest the stock is stabilizing near its life time high levels.
2. Key Levels
Support Levels: 900
This zone has acted as a psychological and technical support level, holding the recent consolidation movement.
Resistance Levels: 970
A small round bottom and closing above this level would confirm a shift to a bullish trend.
3. RSI (Relative Strength Index)
The RSI at 69
This indicates a neutral stance with a bullish bias. It shows the stock is neither overbought nor oversold.
4. Volume Analysis
Moderate Volume: The current volume shows a significant increase, which is crucial for confirming a breakout.
Watch for a volume spike near resistance levels (970) to validate a bullish move.
5. Patterns and Insights
Consolidation Phase+ Rounding bottom
The price is trading sideways after the recent uptrend, suggesting accumulation.
Potential Breakout:
A Closing above 970 with strong volume could indicate the continue of a bullish trend.
Conclusion
The stock is currently in a consolidation phase, awaiting a clear breakout. Traders should focus on the 970 resistance and 900 support zones to determine the next directional move.
Disclaimer -
The information provided herein is for educational purposes only.
