ONWARD TECHNOLOGIES LTD📊 ONWARD TECHNOLOGIES LTD (1D) – CMP ₹313.00
📅 Published on: May 17, 2025
📈 Exchange: NSE
📌 Ticker: ONWARDTEC
🔍 Technical Chart Analysis
✅ Trendline Breakout:
A clean downtrend line breakout is visible on the daily chart, marking the end of a prolonged bearish phase. Price has decisively broken above the falling resistance trendline with a sharp bullish candle and strong volume confirmation.
✅ Volume Surge:
Breakout occurred with a 17.76% gain and significantly higher volume (1.23M), hinting at strong buying interest and possible institutional accumulation.
✅ Fibonacci Retracement Zones (from swing high ₹731.00 to low ₹207.30):
38.2% – ₹407.40
50.0% – ₹469.20
61.8% – ₹531.00
78.6% – ₹618.95
100% – ₹731.00
✅ Support Confirmation:
The price held the multi-year support zone around ₹207.97, which aligns with the 0.00% Fibo level, forming a strong base for reversal.
🧱 Key Support & Resistance Levels
🟩 Support Zones:
₹207.97 (Major long-term support)
₹265–270 (Breakout retest zone if pullback happens)
🟥 Resistance Zones (Fibonacci-based):
₹407.40 (38.2% FIB)
₹469.20 (50.0% FIB)
₹531.00 (61.8% FIB - Golden Ratio)
₹618.95
₹731.00 (Previous ATH)
📉 Timeframe: Daily (1D)
📈 Sentiment: Turning Bullish
💡 Conclusion:
After a long correction, ONWARDTEC has shown a breakout with strong volume from a downtrend line. Holding above ₹300 levels can open room for targets near ₹407–₹469 and beyond. A good setup for swing traders looking for reversal entries.
📌 Disclaimer:
This analysis is for educational and informational purposes only. Not financial advice. Please consult your advisor before making investment decisions.
