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ABCAPITAL Trendline Breakout followed by Good RallyIn weekly chart of ABCAPITAL there was RSI Divergence in first quarter of Year 2025. It made a Trendline Breakout in second week of March 2025 And gave entry above breakout candle weekly close at 163.6 and then with a risk of 9% it gave one sided returns of Risk:Reward of 1:13 Curent Return at 120% It retested resistance level of 243.7 which corresponded 21-EMA in july 2025 and again gave return of 45% from the resistance level It is again forming a Bearish RSI Divergence. But bullish trend is intact till it gives a weekly close below 21-EMA
NSE:ABCAPITALLong
by wahniwal
ICICI Bank — 200-DMA Rejection Keeps the Downtrend IntactMarket Context ICICI Bank continues to trade inside a broad descending channel that has governed price since the 1500 peak. Every counter-trend rally has been corrective so far, and the recent recovery has shown the same character — overlapping candles, choppy subdivisions, and clear respect for channel resistance. Key Technical Drivers 1. Rejection at the 200-DMA The rally stalled exactly at the 200-Day Moving Average. This is the same zone where price lost momentum earlier, reinforcing that the long-term bias remains downward. A failed attempt to reclaim the 200-DMA in a corrective environment typically signals trend continuation rather than reversal. 2. Channel Resistance Still Untouched Even though momentum carried the stock above short-term levels, the broader upper channel boundary continues to act as the main ceiling. Price behaviour near this level is corrective, not impulsive — another sign that the move is still part of a larger complex structure. 3. Structure Supports a Triple Zigzag (W-X-Y-X-Z) This entire decline is best interpreted as a higher-degree W-X-Y-X-Z correction. W bottomed at 1342.60 X rallied to 1445 Y bottomed at 1317.40 The ongoing rally fits well as the second X wave Wave (c) of this X leg may be close to completion, but the subwaves allow room for a marginal push to retest the channel top before turning lower. Nothing in the current leg looks impulsive enough to suggest a larger trend reversal. Trading Plan Direction: Expect the next leg to unfold downward as Wave Z begins. Target Zone: Break below 1317.40 is likely, with measured support near 1280–1300 at the lower boundary. Invalidation: A sustained break above 1411.90 invalidates the bearish Z-wave view and opens the door for a trend reassessment. Conclusion The failed 200-DMA retest, corrective price structure, and channel resistance all point to the current recovery nearing exhaustion. Whether Wave X makes one more marginal high or not, the broader path remains lower toward the Wave Z terminal zone. Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please conduct your own research before taking any trading decisions.
NSE:ICICIBANKShort
by WaveXplorer
EURUSD – Retesting Demand Zone for Potential Upside ReversalPrice has tapped into a well-defined HTF demand zone after a controlled selloff. The latest wick into the zone suggests absorption and potential willingness to push higher. If the zone continues to hold, I’m expecting bullish orderflow to kick in, leading to a structure shift and an upward continuation toward the next liquidity pool. Bullish Path: • Sweep into HTF demand • Hold above the blue line (micro support) • Shift in structure • Continuation toward upside inefficiencies ⚠️ ENTRY CONDITION (IMPORTANT): I will take the trade only if the LTF replicates the same structure and confirmations I’m anticipating on the HTF. No LTF alignment = No trade. The idea remains valid as long as price respects the demand zone and doesn’t close decisively below it.
Long
by YCGH_Capital
Welspun Living (W): Strongly Bullish, Policy-Driven BreakoutTimeframe: Weekly | Scale: Logarithmic The stock has confirmed a major structural breakout from a 9-month consolidation. This move is backed by the highest volume in months and a significant government policy shift favoring the textile sector. 🚀 1. The Fundamental Catalyst (The "Why") The massive volume surge (88M+) is a direct reaction to a convergence of positive news: - New Labour Codes (Nov 21, 2025): The government's proposed new labour codes that allow more flexibility for textile companies (e.g., women working night shifts, overtime flexibility). This is a massive structural positive for labor-intensive companies like Welspun. - Wedding Season Demand: Reports indicate a ₹6.5 Lakh Crore wedding season splurge, directly benefiting home textile demand (bedding, gifting). - Earnings Turnaround: The Q2 results earlier this month showed a "surprise profit" and strong operational performance, creating a fundamental floor. 📈 2. The Technical Structure > The Cycle: You correctly identified the cycle. - Correction: Downtrend from Aug 2024 to April 2025 - Consolidation: Since April, it has been in a sideways base. > The Breakout: The ₹146 – ₹148 zone has been a "Polarity Zone" (acting as both support and resistance) since Nov 2021 . - The Move: This week's 9.13% surge decisively cleared this multi-year hurdle. - The Volume: The volume of 88.37 Million is an "Ignition Bar"—it confirms that institutions are entering aggressively to ride the new policy tailwinds. 📊 3. Technical Indicators Indicator analysis confirms the trend shift: - Short-term EMA PCO: Confirmed on Daily & Weekly , signaling a synchronized uptrend. - RSI: Rising across all timeframes, indicating that momentum is expanding and supports the breakout. 🎯 4. Future Scenarios & Key Levels With the "lid" removed and policy support in place, the path of least resistance is up. > 🐂 Bullish Target: ₹178 . This aligns with the previous major swing highs and is the immediate technical objective. > 🛡️ Support (The "Must Hold"): - Immediate Support: ₹146 . The breakout zone must now act as support. Any pullback to 146-148 is a high-probability "buy the dip" zone. - Stop Loss: The level of ₹129 is a safe structural stop, but a close below ₹140 would be the first sign of weakness. Conclusion This is a Grade A setup since it's a technical breakout supported by a sector-wide policy catalyst (Labour Codes). The massive volume confirms smart money participation. Watch for the stock to hold above ₹146 .
NSE:WELSPUNLIVLong
by Learn_with_Pth0mas
IIFL Finance LimitedPrice is breaking out above a long consolidation range, but the move is short term overextended, so both upside continuation and a pullback retest are likely scenarios rather than a one way move. This is educational analysis, not personalized financial advice; position sizing and risk must match your own plan. Trend and structure • The chart shows IIFL Finance Limited breaking out above a broad sideways range, with current price near the upper boundary of that rectangle zone around the 570–580 area. Moving averages • The shorter moving averages (such as 20 and 50 day) are now sloping upward and positioned above the longer averages, which is typically a sign of emerging bullish momentum after a prior base. RSI and momentum • The daily RSI on the chart is in the higher band, showing strong positive momentum but also edging toward overbought territory where pullbacks or sideways pauses are common.
NSE:IIFLLong
by NK-PK
Motherson (W): Strongly Bullish, Post-Bonus Breakout(Timeframe: Weekly | Scale: Logarithmic) The stock has confirmed a major structural breakout, emerging from a 7-month consolidation phase. This move is supported by a "Higher Low" structure, rising volume, and recent analyst optimism. 📈 1. The Structural Context (The Turnaround) - The Adjustment (Context): It is important to note that the price levels (ATH ~₹144) reflect the 1:2 Bonus Issue that occurred in July 2025. The stock is now recovering from the post-bonus correction. - The Cycle: - Peak: ATH of ₹144.66 in Sep 2024. - Correction: A downtrend lasted until April 2025 , finding a base. - Reversal: Since April, the stock has shifted character, forming a clear series of Higher Lows , indicating steady accumulation. 💥2. The Breakout (This Week's Action) - The "Lid" (Resistance Zone): The ₹113 – ₹116 zone has acted as a stiff resistance since Nov 2024. Breaking this level is significant. - The Surge: This week, the stock decisively broke and closed above this zone with a 5.93% surge . - Volume Confirmation: The move was backed by massive volume of 151.49 Million . Volume has been "drying up" since the ATH, so this sudden volume expansion is a classic "Ignition" signal. 📊 3. Technical Indicators Indicator analysis shows a synchronized bullish trend: - EMAs: Short-term EMAs are in a PCO (Price Crossover) state across Monthly and Weekly timeframes, confirming the trend is up. - RSI: The Relative Strength Index is rising on both timeframes, showing momentum is building. 🎯 4. Future Scenarios & Key Levels The breakout opens the door for a rally toward the previous highs. - 🐂 Bullish Targets: - Target 1: ₹132 . This is the immediate technical extension. - Target 2: ₹145+ . If momentum sustains, a retest of the All-Time High is the structural goal. (Note: Some street estimates are as high as ₹162 ). - 🛡️ Support (The "Must Hold"): - Re-test Zone: The ₹113 – ₹116 zone has now flipped to support. A pullback to this level would be a healthy entry opportunity. - Stop Loss: If the breakout fails (fakeout), the stock may slide to the ₹102 support zone. Conclusion This is a high-quality setup. The combination of Higher Lows , a Volume Breakout , and the Bonus Adjustment digestion makes this a strong candidate for a move to ₹132 . Watch for a sustained hold above ₹116 .
NSE:MOTHERSONLong
by Learn_with_Pth0mas
SAIL - Buy - Technical Analysis# Steel Authority of India Limited (SAIL) - Technical Analysis Report Current Price: 136.92 Timeframe: Weekly Chart Analysis Technical Setup Overview SAIL is presenting a compelling technical picture with multiple bullish indicators aligning for a potential significant upward move. The stock is currently trading within a well-defined rising wedge pattern and has recently formed a **Hidden Divergence** on the weekly chart - a classic trend continuation signal. Key Technical Observations Rising Wedge Pattern: The stock is trading within a rising wedge formation, which typically indicates consolidation before a breakout. The current price action suggests the stock is in the later stages of this pattern. Hidden Divergence - Bullish Continuation Signal: A **Hidden Divergence** has formed on the weekly timeframe. - This pattern typically signals trend continuation and suggests the uptrend is likely to resume with strength Sorted EMA Structure: The Exponential Moving Averages are properly aligned, indicating a healthy bullish trend structure with multiple moving averages providing dynamic support. Cup Formation in Progress: The stock appears to be carving out a **classic Cup pattern**, which is a well-known bullish continuation formation. This pattern suggests accumulation and potential for a significant breakout move. Price Targets & Projections Based on the technical structure, here are the potential price targets: Target 1: 155.61 (Higher High breakout level) Target 2: 169.15 Target 3: 195.79 These targets are derived from the pattern structure and represent key resistance zones where profit-taking may occur. Trading Strategy Considerations For Swing Traders: - Current levels offer a potential entry opportunity for medium to long-term positions - A move above ₹140 could confirm the continuation pattern - Stop loss can be placed below the recent higher low at 122 for risk management Risk Factors to Monitor - Failure to hold above ₹122 would invalidate the bullish hidden divergence - Breakdown below the rising wedge support would change the outlook - Sector performance and broader market conditions should be monitored - Steel industry fundamentals and commodity price trends 🔔 Conclusion SAIL is exhibiting strong technical characteristics with the Hidden Divergence pattern, sorted EMA structure, and cup formation all pointing toward potential upside. The current price action within the rising wedge presents an interesting risk-reward setup for traders and investors with appropriate risk management. DISCLAIMER This analysis is for educational and informational purposes only and should NOT be considered as investment advice or a recommendation to buy, sell, or hold any securities. - I am not a SEBI registered analyst or investment advisor - This is purely a technical analysis based on chart patterns and indicators - Past performance and technical patterns do not guarantee future results - Trading and investing in stocks involves substantial risk of loss - Always conduct your own research and due diligence before making any investment decisions - Consult with a qualified financial advisor before taking any investment positions - The author holds no responsibility for any profits or losses incurred based on this analysis - Risk management and position sizing are crucial - never invest more than you can afford to lose **Trade/Invest at your own risk. Do your own analysis.** #SAIL #SteelAuthorityOfIndia #StockMarket #TechnicalAnalysis #NSE #IndianStocks #ChartAnalysis #TradingView #StockTrading #HiddenDivergence #CupPattern #PriceAction #SwingTrading #Investing #MarketAnalysis #SteelSector #Commodities #TradingStrategy #ChartPatterns #TechnicalIndicators
NSE:SAILLong
by earnwhileulearn
Kirloskar Oil Engines - Swing TradeKirloskar Oil Engines Limited - Technical Analysis Report Current Market Price: 1,005.70 MARKET BIAS: BULLISH RECOVERY IN PROGRESS Kirloskar Oil Engines is currently trading at 1,005.70, showing signs of bottoming out after a significant correction from its all-time highs of ₹1,450+. The stock is now forming a potential reversal pattern. KEY TECHNICAL OBSERVATIONS: 1. Major Support Zone - HOLDING STRONG ✅ The stock has found solid support in the 900-950 zone, which coincides with: - Multiple moving average convergence (EMA 20/50/100/200) - Previous resistance-turned-support from mid-2025 - Psychological round number support at 900 The price has bounced decisively from this zone, suggesting accumulation by institutional investors. 2. Consolidation Rectangle Pattern (Daily/Weekly) A clear *rectangular consolidation box* : - Upper Range: 1,016 - 1,050 - Lower Range: 900 - 950 This sideways movement indicates Distribution completion and potential energy buildup for the next directional move. All major EMAs are converging in the 890-910 zone, creating a strong support cluster. TARGET ANALYSIS: Immediate Resistance Targets: Target 1: 1,180 - 1,200 (First Major Resistance) - Previous consolidation high from December 2025 - 61.8% Fibonacci retracement of the recent decline Target 2: 1,334 (Secondary Target) - Major swing high marked on weekly chart - Psychological resistance zone Target 3: 1,450 (Extended Target) - Previous all-time high zone - Final resistance before new highs Critical Support Levels: - 1,000: Immediate psychological support - 900-920: MAJOR SUPPORT (EMA cluster + pattern base) BULLISH BREAKOUT (Higher Probability - 65%)** CONCLUSION: Kirloskar Oil Engines is at a Critical juncture with strong technical setup favoring a Bullish breakout. The stock has: - ✅ Successfully held major support zones - ✅ Maintained position above all key moving averages - ✅ Formed higher lows indicating accumulation - ✅ Built a strong base for the next upward move Disclaimer: This analysis is for educational purposes only. Please consult with your financial advisor before making investment decisions. Past performance does not guarantee future results.
NSE:KIRLOSENGLong
by earnwhileulearn
Tata Consumer Products Ltd – Inverted Head & Shoulders Breakout (Long-term Reversal Structure Forming) Tata Consumer is currently attempting a breakout from a long-term neckline zone around ₹1,170–₹1,200 after forming a large Inverted Head & Shoulders pattern on the weekly timeframe. The right shoulder has built a strong base above the 20W & 50W EMA, confirming renewed demand. Volume has gradually increased over the past weeks during the breakout attempt — a bullish sign. A strong weekly close above ₹1,200 could activate the full pattern and open space toward the ₹1,400+ target zone. 🎯 Key Technical Levels CMP: ₹1,183.10 (+0.78%) Neckline (Breakout Zone): ₹1,170 – ₹1,200 Pattern Target: ₹1,390 – ₹1,420 Support Zone: ₹1,095 – ₹1,115 Stop-Loss: Below ₹1,090 (weekly close basis) 📈 Technical View Large Inverted Head & Shoulders visible over a multi-month structure. Right shoulder built cleanly above EMAs → uptrend strength. Volume rise during recent candles suggests accumulation by big hands. A breakout + weekly close above ₹1,200 would indicate strong continuation toward the target zone. 🧠 View Tata Consumer is approaching a decisive weekly breakout. A sustained close above ₹1,200 could trigger the completion of the Inverted H&S pattern and invite a move toward ₹1,400+. Retests toward ₹1,150–₹1,170 may offer accumulation opportunities.
NSE:TATACONSUMLong
by yatharthshah23
Man Industries (W): Bullish, Turnaround with Volatility(Timeframe: Weekly | Scale: Logarithmic) The stock is in a confirmed structural uptrend (Higher Lows) following a year-long correction. It is currently battling a critical multi-year resistance zone, backed by strong fundamental news and rising volume. 📈 1. The Structural Turnaround (The "Big Picture") - The Cycle: Trend analysis: - Consolidation: Jan 2024 – July 2024. - The Peak (ATH): The stock hit a major high in July 2024 - The Correction: A downtrend followed, bottoming out in March 2025. - The Reversal: Since March 2025, the stock has shifted character, forming a clear series of Higher Lows, signaling that buyers are stepping in at higher prices. 🚀 2. The Catalyst & Recent Action (Week of Nov 17) - The Catalyst (The "Why"): The recent surge is driven by the company signing a Memorandum of Understanding (MoU) with Aramco Asia India (a subsidiary of Saudi Aramco) to explore a manufacturing facility in Saudi Arabia. This news triggered the volume spike. - The Breakout Attempt: Last week (Nov 17-21), the stock attacked the horizontal resistance zone. - Surge: It rallied +5.60% for the week. - Volume: The move was supported by 5.22 Million in volume —a significant pickup compared to the "dry" correction phase. - The Rejection: Despite hitting a new 52-week high intraday (₹472.40 on Nov 20), the stock failed to close above the resistance, facing profit-taking near the highs. 📊 3. Technical Indicators - Trend: Short-term EMAs are in a PCO (Price Crossover) state on Monthly & Weekly charts, confirming the uptrend. - Momentum (RSI): - Weekly/Monthly: RSI is rising, supporting the longer-term bullish view. - Daily: The Daily RSI dipped on Friday, reflecting the immediate rejection/profit-taking at resistance. 🎯 4. Future Scenarios & Key Levels The "Shooting Star" style rejection on the weekly chart makes the coming week critical. 🐂 Bullish Case (Breakout Confirmation) - Trigger: A sustained close above the ₹465–₹475 zone. - Target 1: ₹545 - Target 2: ₹645 (Blue-sky extension). 🐻 Bearish Case (Support Test) - Trigger: If the "failed breakout" leads to further profit-taking. - Support: The immediate support lies at ₹420. Holding this level is crucial to maintain the "Higher Low" bullish structure. Conclusion The stock is structurally bullish but is digesting a supply overhang at the All-Time Highs. The Aramco news provides a strong floor, but patience is needed for a decisive close above ₹475 to confirm the next leg up.
NSE:MANINDSLong
by Learn_with_Pth0mas
BITCOIN NEED BREATHE CRYPTO:BTCUSD BTC need take relief of selling because selling is continuously happened so one little bounce is possible and that bounce works as retest of channel breakdown. Reverse Scenario: Formation of any bottom pattern V shape recovery Long consolidation after with volume brake out. All chances is possible but there are low possibility 🧠 Always DYOR (Do Your Own Research) ⚖️ This is not financial advice or suggestion 👉 “Risk Is Real 💸 Stay Practical🚀” 💬 Please feel free to ask any questions (It's Free)
CRYPTO:BTCUSDLong
by Jatin109
ICICIGI | High probable INHS setup - Looks good for 20-40%ICICIGI | High probable INHS setup - Looks good for 20-40% CMP : 2006 (Dip : 1930) SL : 1800 The stock has confirmed a classic inverted Head & Shoulders pattern on the daily chart, signaling a strong trend reversal. ✅ Breakout above neckline with decent volume, adding conviction to the move. 🎯 Immediate Target: 2300 🎯 Second Target (as per Fibonacci extension): 2700 📉 Pattern: Inverted H&S 📈 Volume: Supporting the breakout 📊 Bias: Bullish This could be an excellent area of value for swing traders looking to ride the trend. A retest of the neckline could offer a second entry opportunity with a good risk-reward ratio.
NSE:ICICIGI
by srikartiram
Will Powergrid showing sign of exiting it??Power Grid has been trading in a range for a while and it is showing sign of some weakness. Major Trend - Down Trend As there is a BoS of the previous market cycle. Minor Trend - Sideway to range bound. The market tends to retest the swing low in the coming month. Stock has taken a strong resistance from 20 & 50 EMAs. Weekly close is below 100 EMA. If the stock follow through the downside movement, entry for a sell trade is there with a 1:2 R:R ratio. Entry :- 270 Stop Loss :- 279 Target :- 259 Last week the index too has supported the fall. If the index remains negative, full quantities can be punched around 270, in case of a retest half quantities can be sold around the retest and the price action near resistance levels while remaining quantity to be entered once the price action is in our favor.
NSE:POWERGRIDShort
by TheMamboMomentum
Bitcoin at Support: Bounce Likely, Trend Still WeakBitcoin has been sliding steadily and has now broken its first major support near 103k. The latest drop completed a clear A-B-C decline, with the final C-wave forming an ending diagonal — a pattern that often signals exhaustion at the end of a move. That’s why the selling pressure slowed as price entered the current demand zone. Oversold Conditions The RSI on the daily chart has dropped into deeply oversold territory. This is typically where Bitcoin produces a reaction bounce. It doesn’t confirm a trend reversal, but it does hint that sellers may pause. What Happens Next A corrective bounce — the X-wave — is the most reasonable expectation. However, X-waves are usually messy and uneven, not clean rallies. The key area to watch is 100k–103k . If Bitcoin cannot reclaim this zone, the larger corrective structure remains in control. Bigger Picture The moving averages support this caution. The 50-day and 200-day MAs are close to forming a death cross, which signals weakening short-term momentum relative to the long-term trend. It doesn’t imply a crash, but it does suggest that any bounce may face resistance. If the X-wave fails below 103k, the next leg — the Y-wave — could drive price toward the larger support region around 72k–75k. In Summary The decline looks structurally complete, ending with an ending diagonal. RSI is deeply oversold -> a corrective bounce is likely. 100k–103k is the make-or-break zone. Failure to reclaim it keeps the W-X-Y correction active. The final support zone sits lower, near 72k–75k. A bounce may come first, but the broader structure still leans bearish unless key resistance levels are regained. Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
CRYPTO:BTCUSD
by WaveXplorer
3
Sequent (D): Strongly Bullish, Fundamentally-Driven BreakoutThe stock has confirmed a major breakout from a 3-year structural turnaround. The move is backed by a massive earnings beat, high-conviction volume, and aligned indicators across all timeframes. 📈 1. The Long-Term Structure (The Turnaround) - The Crash (2021-2023): After hitting its All-Time High (ATH) in June 2021, the stock entered a brutal correction, falling ~81% to form a base around ₹62 in February 2023. - The Recovery: Since March 2023, the stock has been in a steady uptrend, forming a classic "rounding bottom" or recovery structure. - The Hurdle: The recovery faced a stiff horizontal resistance trendline at the ₹239 - ₹241 zone. This level acted as a ceiling in October 2024 (High: ₹240.70) and rejected price action multiple times recently. 🚀 2. The Catalyst & Breakout (Today's Action) - The Catalyst: The breakout is fueled by Q2 FY26 Earnings , where the company reported a staggering 209.1% YoY jump in Net Profit - The Breakout: Today (Nov 18, 2025), the stock decisively shattered the ₹240 resistance, surging 7.10% to close near ₹247 . - Volume Confirmation: The move was backed by massive volume of 9.15 Million shares, a sharp spike compared to the drying volume seen during the recent consolidation. This confirms institutional buying. 📊 3. Technical Indicators - EMAs: Short-term EMAs are in a PCO (Price Crossover) state across Monthly, Weekly, and Daily timeframes, signaling a synchronized bullish trend. - RSI: The Relative Strength Index is rising across all three timeframes, confirming that momentum is expanding with price. 🎯 4. Future Scenarios & Targets The breakout has opened the door to higher levels, with a specific structural target in focus. - The Gap (The Magnet): An unfilled gap on the daily chart has been identified from the steep 2021 correction. This gap exists between ₹270 and ₹276 (formed in August 2021). Gaps often act as magnets for price. 🐂 Bullish Targets: 1. Target 1 (Gap Support): ₹270 . The stock is likely to run toward the bottom of this unfilled gap. 2. Target 2 (Gap Fill): ₹295 . If momentum sustains and fills the gap, the next extension level is near ₹295. 🛡️ Support (The Entry Zone): - Re-test Level: The breakout level at ₹239 - ₹240 has now flipped from resistance to support. A pullback to this zone would be a classic "buy-the-dip" opportunity to enter the trend with a favorable risk-reward ratio. Conclusion This is a high-quality setup. The combination of a technical breakout , earnings explosion, and gap-fill potential makes this a strong candidate for continuation. Watch for a hold above ₹239 .
NSE:SEQUENTLong
by Learn_with_Pth0mas
Rico Auto (D): Strongly Bullish, 20-Year BreakoutThis is a high-conviction, "blue-sky" breakout setup. The stock has shattered a resistance confluence that includes a 20-year-old horizontal ceiling . This technical move is powered by a massive fundamental turnaround in the recent quarter. 🚀 1. The Fundamental Catalyst (The "Why") The breakout is not random; it is a direct reaction to the company's Q2 FY26 Earnings report (announced recently): - Net Profit: Nearly tripled (surged ~200-300%) compared to the previous year. - Revenue: Showed healthy growth despite sector headwinds. - Impact: This strong fundamental performance provided the volume and momentum needed to break the multi-decade resistance. 📈 2. The "Confluence" Breakout (The Setup) The stock faced two formidable barriers at the **₹108** level: 1. The 20-Year Resistance: A horizontal "lid" formed at the major peak in September 2005 (approx. ₹106-₹108). Breaking a 20-year resistance is a sign of a significant structural shift. 2. The Angular Resistance: The downward trendline from the April 2024 ATH (₹157). 💥 3. Today's Price Action (Confirmation) - The Surge: The stock surged +11.93% today, closing decisively above the ₹108 confluence zone. - The Volume: The move was backed by 37.23 Million in volume—a massive spike compared to the "drying volume" seen during the consolidation. This confirms institutional participation. 📊 4. Key Technical Indicators Indicator analysis confirms the momentum across all timeframes: - RSI: Rising in Daily, Weekly, and Monthly charts, showing synchronized bullish momentum. - EMAs: Short-term EMAs are in a PCO (Price Crossover) state across all three timeframes, signaling a strong trend alignment. 🎯 5. Future Scenarios & Targets With the 20-year resistance broken, the stock has room to run. - 🐂 Target 1: ₹127 (Immediate technical extension). - 🛑 Support (The Safety Net): The breakout level at ₹108 is now critical. If the stock pulls back, this "resistance-turned-support" must hold to keep the breakout valid. A successful re-test here would be a textbook entry opportunity.
NSE:RICOAUTOLong
by Learn_with_Pth0mas