Niva Bupa Health Insurance Company LtdNIVABUPA is showing signs of a potential breakout from a Rectangle Base sideways consolidation. If volume accompanies a move above 94, it could mark the start of a new uptrend.
The stock is approaching a key resistance zone 94, this zone was tested twice previously and rejected, indicating its importance. If it closes strongly above 94, it could trigger a breakout.
RSI has formed a bullish divergence, the price made lower lows while RSI made higher lows This is typically a sign of accumulation and bullish reversal. Volume is not yet explosive, but building. If volume spikes with a breakout above 94, it confirms strength to 108. If it fails to break 94 again and forms a reversal candle, a short-term pullback toward 83 can happen.
Niva Bupa is a standalone health insurance company in India, offering a range of retail and group health insurance products.
