Search in ideas for "STRONG BUY"
#Tatachemicals #positional buy#tatagroup , Group of stocks belong to a group to buy coz of their strong fundamentals.
#Strong Buy #Tatachemicals, Stock is already in buy , fresh position to buy above 795, for a positional target of 859/930/1000.
#investment pick.
the above analysis is based in #fibonocci set up
Mastek- Cup and Handle Pattern Mastek Ltd. 3099- Cup and Handle Pattern
1. Pattern Analysis
Pattern Name: Cup and Handle Pattern
Timeframe: 2.5 years
Description: The Cup and Handle pattern consists of a rounded bottom (the "cup") followed by a smaller consolidation phase (the "handle"). This pattern represents a long accumulation period where selling pressure gradually weakens, leading to a breakout as buyers take control. In this case, the cup has formed over the past 2 years, followed by a handle that completed over several months. The breakout above ₹3,000, which marks the resistance level, confirms the pattern.
2. Volume Analysis
Volume Behavior: During the cup formation, volume gradually declined, indicating diminishing selling interest. As the handle formed, volume further reduced, showing consolidation and the potential for a breakout.
Current Volume: A significant volume increase accompanied the breakout above ₹3,000, confirming the bullish signal. Rising volume on breakout from a Cup and Handle pattern is a positive sign, as it indicates strong buying interest and supports the breakout’s legitimacy.
3. Price Action and Candlestick Analysis
Candlestick Patterns: The breakout candle was a strong bullish candlestick, closing above the resistance level of ₹3,000. The closing near the weekly high signifies buying pressure and the potential for a sustained move. This bullish candlestick further validates the breakout from the Cup and Handle pattern.
4. Validation of Bullish Signal
Breakout Confirmation: The breakout above ₹3,000, backed by strong volume, confirms the bullish continuation signal for the Cup and Handle pattern. This breakout suggests the start of a new uptrend.
Key Levels:
Resistance Level: ₹3,000, the breakout level, which has now turned into support.
Next Target Levels: Calculated based on the height of the cup from the lowest point to the breakout level.
5. Entry Point Determination
Primary Entry: Near ₹3,000 on confirmation of the breakout above the handle’s resistance. This level has already shown strength as the stock broke out with high volume.
Alternative Entry: A potential retest of the ₹3,000 level could provide an additional entry opportunity. This conservative approach could help validate the level as support.
6. Target Setting
Pattern-Based Target Calculation: The target for a Cup and Handle breakout is typically measured by taking the depth of the cup and projecting it upward from the breakout point.
Cup Depth: The cup extends approximately from ₹1,800 to ₹3,000, giving a height of around ₹1,200.
Projected Target Price:
Primary Target: ₹3,000 + ₹1,200 = ₹4,200.
Interim Target Levels: Additional targets can be set for profit-taking at increments along the way to the full projection, such as ₹3,300 and ₹3,600.
7. Stop Loss Placement
Recommended Stop Loss: A stop loss should be placed just below the breakout level, around ₹2,900. This level serves as a buffer in case of a minor retracement, protecting against a potential false breakout.
Alternative Stop Loss: A more conservative stop could be set at ₹2,800, providing further room for fluctuations but still maintaining control over downside risk.
Paradeep Nearing A Crucial Resistance level- Keep In Watchlist📊 Paradeep Phosphates
✅ The stock is nearing a crucial resistance level around 95, a level that has acted as a cap on price movement for several months. A sustained move above this level with strong volume could confirm a breakout, paving the way for higher targets.
✅ The price is comfortably trading above the 200 EMA indicating a bullish trend and strong underlying support. The EMA is also aligning closely with the recent consolidation area, reinforcing the support zone around 82-85. Paradeep Phosphates has been consolidating within a defined range, which appears to be an accumulation phase. This range-bound trading often signifies that the stock is gathering momentum, setting the stage for a breakout with significant upside potential.
✅ The breakout attempt is accompanied by a notable increase in volume, signaling strong buying interest. Volume surges during breakout attempts indicate that institutional players may be accumulating shares, which adds credibility to the price movement. The Relative Strength Index is at 59 suggesting room for further upside without reaching the overbought zone. This reflects healthy buying momentum, with a possible continuation toward higher levels.
🚨 A breakout above 95 could lead the stock towards its target levels of 110 in the short term, with an extended target of 120 if momentum continues. These levels are aligned with previous resistance zones, making them realistic profit-taking targets. The 82 level serves as an ideal stop-loss, providing a safety cushion in case of a failed breakout. Any sustained move below this level would invalidate the bullish setup, signaling an exit.
Looking Very Strong For Longterm Investment 📊 Bannari Amman Sugars
✅ The stock has recently broken out above a massive 18-year-old resistance trendline, a highly significant technical event. This breakout from such a long-term resistance level indicates a major shift in sentiment and could lead to substantial upside as the stock enters a new growth phase.
✅The stock is comfortably trading above its 50 EMA and 100 EMA reinforcing the bullish trend. These EMAs are acting as dynamic support further validating the strength of the recent breakout. A pullback to these levels would likely attract fresh buyers.
✅ The breakout has been accompanied by a noticeable increase in trading volume, suggesting strong buying interest. Such volume behavior typically reflects institutional participation which is essential for sustaining a long-term rally.
✅ The RSI currently stands at 59 well below the overbought zone, suggesting ample room for further upside. The RSI has shown consistent strength indicating that the stock is building momentum for a continued upward move.
🚨 Following the breakout the stock’s immediate target is 4000 with a potential extension towards 4200 if the bullish momentum continues. These targets are based on the breakout projection from the previous resistance zone.
🚨The 3000 level now acts as a critical support having served as a resistance before the breakout. Any pullback towards this level should be seen as a buying opportunity especially for long-term investors aiming to accumulate shares.
🚨 The breakout above an 18-year resistance line is a powerful signal marking the beginning of a potential long-term uptrend. The combination of strong support from EMAs volume confirmation and favorable RSI levels makes Bannari Amman Sugars Ltd an attractive choice for investors seeking long-term growth.
Cipla Pole and Flag patteStock Analysis Report for Cipla Limited
01. Pattern Analysis
Pattern Name: Pole and Flag Pattern
Cipla has formed a Pole and Flag pattern, which is a bullish continuation pattern. The flag represents a consolidation phase after a strong upward move (pole), typically occurring before a breakout to the upside. The stock is at its all-time high, with a breakout from a narrow consolidation range. This is a positive signal that indicates potential for continued upward movement.
02. Volume Analysis- Volume Behavior:
During the consolidation phase, the volume has remained relatively stable, which is typical for a flag pattern. There is no significant sell-off, indicating that traders are holding their positions. The volume will be crucial to watch in the upcoming sessions to confirm the strength of the breakout.
Current Volume:
There has been a notable increase in volume during today's session, which corresponds with the formation of a bullish Marubozu candlestick, reinforcing the breakout.
03. Price Analysis- Candlestick Patterns:
A bullish Marubozu candlestick has formed at the breakout level. This indicates strong buying momentum with no significant selling pressure during the session, further validating the bullish sentiment.
04. Validation of Bullish Signal- Breakout/Breakdown Confirmation:
The stock has broken out from its consolidation range at the all-time high, supported by strong volume and the Marubozu candlestick formation. This confirms the bullish breakout signal.
.Price Retraction:
Given the breakout, it's important to monitor whether the price sustains above the breakout level. A successful retraction and hold above this level would confirm the continuation of the uptrend.
05. Key Levels
Support: The lower bound of the recent consolidation range around ₹1,640 would act as the immediate support level.
Resistance: The stock has entered uncharted territory, so no clear resistance is present. Psychological levels like ₹1,700 and ₹1,750 may act as potential resistance points as the stock moves upward.
06. Entry Point Determination
Recommended Entry: A buy position can be considered above the breakout level, around ₹1,680, assuming the breakout is sustained with volume.
07. Target Setting
Pattern Target: The height of the flagpole (from the start of the pole to the top of the flag) projected upward gives a target range of approximately ₹1,800 to ₹1,850.
Target Price: Short-term traders can target ₹1,750 initially, while long-term traders can aim for ₹1,800+ based on the pattern's full potential.
08. Stop Loss Placement
Recommended Stop Loss: A stop loss around ₹1,630, just below the flag's lower boundary, would be a reasonable risk management point.
GBPUSD: Resistance at 1.32225, Strong Support at 1.30969The chart shows GBPUSD facing strong resistance at 1.32225, tested multiple times but not yet broken, as indicated by the red arrows.
Both EMA 34 and EMA 89 confirm that the long-term uptrend remains intact, despite the price temporarily correcting towards the support zone.
The two key support levels are Support 1 at 1.30969 and Support 2 at 1.31182, with price responding well, showing strong buying pressure.
GBPUSD is likely to fluctuate within the range of 1.3050 - 1.3250 before a clearer trend emerges. If it breaks above the 1.32225 resistance, the pair could continue to rise.
The slight decrease in the UK's GDP may put short-term pressure on the GBP. However, the Bank of England (BoE) potentially raising interest rates adds uncertainty and volatility to the GBPUSD pair.
Sector-Based Analysis: Navigating Today's Market DynamicsTo complement my earlier NIFTY analysis, let's dive into the key sectors and their potential impact on today's market movement. Here’s a quick breakdown of the major indices to watch and how they could influence NIFTY's direction:
1. Banking Sector (BANKNIFTY):
Current Level: 51,383.95 (+32.95, +0.06%)
Analysis: The banking sector remains mildly positive today, reflecting stability in major financial stocks. Any sustained upward move in BANKNIFTY above 51,400 could provide additional momentum to NIFTY. However, if BANKNIFTY fails to hold above the 51,300 support level, it may trigger some selling pressure on NIFTY as well.
2. Financial Services (CNXFIN):
Current Level: 26,706.65 (+68.75, +0.29%)
Analysis: The financial services index is showing resilience with a modest uptick. A positive performance in this sector often signals broader market strength. The continuation of buying interest in this index above 26,700 would support a bullish view for NIFTY.
3. Information Technology (CNXIT):
Current Level: 42,940.00 (+152.40, +0.36%)
Analysis: CNXIT is gaining momentum and is a key driver today. Tech stocks are often considered safer bets, and a rally in this sector could act as a strong tailwind for NIFTY. Watch for a breakout above 43,000 for further bullish confirmation.
4. Auto Sector (CNXAUTO):
Current Level: 32,073.60 (-98.90, -0.31%)
Analysis: The auto sector is underperforming, with notable weakness visible in several major auto stocks. If CNXAUTO continues to decline, it could create a drag on NIFTY, particularly if other sectors also show signs of fatigue.
5. FMCG (CNXFMCG):
Current Level: 66,739.70 (+609.95, +0.95%)
Analysis: The FMCG sector is exhibiting strong buying interest and is currently one of the best-performing sectors. Positive movement here might help sustain NIFTY's overall sentiment, especially if consumer demand trends remain favorable.
6. Metals (CNXMET):
Current Level: 23,947.05 (-35.90, -0.15%)
Analysis: The metal sector is seeing some selling pressure today, possibly due to profit booking after recent gains. Any further downside in CNXMET could weigh on market sentiment, but if it stabilizes above 23,900, it might not have a significant negative impact on NIFTY.
7. Pharma (CNXPHARMA):
Current Level: 23,181.70 (-35.90, -0.15%)
Analysis: Pharma is relatively flat today. The sector's lack of direction indicates uncertainty among investors. However, if it stays above the 23,150 level, it may provide some support to the overall market.
Sector-Wise Conclusion:
The Banking, Financial Services, and FMCG sectors are showing positive momentum and are crucial to driving NIFTY higher today.
Auto and Metal sectors are underperforming; however, their impact might be mitigated if strength in other sectors persists.
Keep a close watch on CNXIT and BANKNIFTY for further clues on market direction. A strong performance in these sectors could be the catalyst needed for NIFTY to break its current resistance.
What to Watch Today:
A sustained uptrend in BANKNIFTY and CNXIT will be critical for a bullish continuation.
Any significant weakness in Auto or Metals could be a red flag for potential profit booking in NIFTY.
Monitor the FMCG sector closely; its outperformance could provide stability to the broader market.
POLYPLEXResistance Levels: The stock faces long-term resistance around ₹1600, a level it has tested multiple times in the past year. Breaking above this could indicate strong bullish momentum.
Support Levels: Key support lies around ₹1088/1200, where the stock has consistently found buying interest, preventing further downside.
Recent Volume: There's been a significant increase in trading volume, particularly after the recent earnings announcement. This suggests strong buying interest, often seen as a bullish sign.
Long-Range Volume-Low Range: The stock has maintained higher volumes near its lower trading ranges in the past few weeks, indicating accumulation at lower levels. This could be a precursor to a potential breakout if volume continues to rise near resistance levels.
Polyplex shares show strong bullish indicators, with increasing volume and solid support levels. However, monitoring resistance around ₹1600 is crucial, as a breakout could lead to a new upward trend.
Potential Breakout with Strong Support and Bullish Indicators ✅The stock has been in a descending triangle pattern, typically a bearish formation, but it is currently testing the upper trendline for a potential breakout. The descending triangle pattern is identified by lower highs converging with a flat support level.
✅The 50 EMA and the ascending support line have provided solid support for the stock. The liquidity zone around ₹750 has also acted as a crucial support area, indicating strong buying interest at these levels.
✅There is a noticeable increase in volume as the stock approaches the upper trendline, suggesting that buyers are stepping in. A volume spike during a breakout attempt indicates strong market interest and potential for a sustained move.
✅The RSI has started to trend upwards from below 40 and is currently around 58 indicating a shift towards bullish momentum. An RSI moving from oversold to above 50 suggests increasing buying strength.
After Multiple Attempts Stock Has Finally Broke The Resistance
Rupa & Co has experienced multiple attempts to break the resistance at ₹320, forming a strong resistance zone over the past year. The recent price action has shown a significant increase in volume, indicating strong buying momentum. If the stock sustains above ₹320, it could lead to a strong rally.
Rupa & Co, a leading player in the Indian innerwear market, is witnessing increased demand driven by its expansion into premium segments and effective marketing strategies. The company’s consistent performance and strategic growth plans make it a compelling buy at current levels.
This Stock Has Broke A Long-Term Resistance with EMA Support✅The stock has been trading within a rising channel, encountering a 4.6-year-old strong resistance. Recently, the price has broken above this resistance, showing a potential bullish continuation.
✅ Immediate support around ₹180, aligning with the lower trendline. Stronger support near the 50 EMA at ₹154 providing a robust base for potential upward movement.
✅ Noticeable increase in volume with the breakout above the strong resistance, signaling strong buying interest and supporting the bullish outlook.
✅ RSI is currently at 67 trending upwards and indicating increasing bullish momentum without being overbought. The MACD histogram shows rising bullish momentum, with the MACD line close to crossing above the signal line, suggesting a buy signal.
The Stock Is Ready To Break Symmetrical Triangle Pattern ✅The stock has been consolidating within a symmetrical triangle, supported by a 15-month-old strong support level. Recently, the price has shown signs of breaking out above the descending trendline, indicating a potential bullish continuation.
✅ Immediate support around ₹460, aligning with the lower trendline. This 15-month-old strong support level provides a robust base for potential upward movement.
✅ Noticeable increase in volume with the breakout above the descending trendline, signaling strong buying interest and supporting the bullish outlook.
✅ RSI is currently at 58.00, trending upwards and indicating increasing bullish momentum without being overbought. The MACD histogram shows rising bullish momentum, with the MACD line crossing above the signal line, suggesting a buy signal.
Breaking Listing Price + ATH After 2.6 Years With Momentum
✅The stock has been forming a large cup pattern over the past 2.6 years and has recently broken its all-time high (ATH), indicating a potential strong bullish continuation.
✅ Immediate support around ₹1,300, aligning with the upper boundary of the cup pattern. This strong support level provides a robust base for potential upward movement.
✅ Noticeable surge in volume with the breakout above the ATH, signaling strong buying interest and supporting the bullish outlook.
✅ RSI is currently at 68.05, trending upwards and indicating increasing bullish momentum without being overbought. The MACD histogram shows rising bullish momentum, with the MACD line crossing above the signal line, suggesting a buy signal.
This Stock Is Ready To Give Breakout With Strong Momentum ✅The stock has been consolidating below a descending trendline but has recently broken above it, indicating a potential bullish reversal. The breakout is accompanied by strong volume buildup, adding confidence to the move.
✅ Immediate support around ₹2,000, which aligns with the lower trendline. Stronger support near the 200 EMA at ₹1,989 providing a robust base for potential upward movement.
✅ Noticeable increase in volume with the breakout above the descending trendline, signaling strong buying interest and supporting the bullish outlook.
✅ RSI is currently at 68 trending upwards and indicating increasing bullish momentum without being overbought. The MACD histogram shows rising bullish momentum, with the MACD line crossing above the signal line, suggesting a buy signal.
Don’t Miss This Stock Giving Breakout from Long-Term Downtrend
✅The stock has been in a long-term downtrend within a descending triangle but has recently shown signs of breaking out above the descending trendline. This breakout indicates a potential bullish reversal, supported by a 2.8-year-old strong support level.
✅ Immediate support around ₹220, aligning with the lower trendline and strong support level. This provides a robust base for potential upward movement.
✅ Noticeable increase in volume with the breakout above the descending trendline, signaling strong buying interest and supporting the bullish outlook.
✅ RSI is currently at 57.08, trending upwards and indicating increasing bullish momentum without being overbought. The MACD histogram shows rising bullish momentum, with the MACD line crossing above the signal line, suggesting a buy signal.
28th May GOLD ANALYSISCurrent Market Overview:
Gold is currently exhibiting a fluctuating trend influenced by a mix of global economic factors, including interest rate decisions by major central banks, geopolitical tensions, and fluctuations in the U.S. dollar. As of the latest data, gold prices are trading within a range, showing both bullish and bearish signals.
Technical Analysis:
Gold's price action suggests a potential for both upward and downward movement within specified zones. Key technical indicators such as moving averages, Relative Strength Index (RSI), and Fibonacci retracement levels are being considered to determine optimal entry and exit points.
Trade Plan
Sell Zone: 2366-2370
Entry Point: Initiate sell orders within the range of 2366 to 2370.
Rationale: This zone is identified as a potential resistance level where selling pressure is expected to increase. Historical price action shows multiple rejections at this level, suggesting a strong sell-off point.
Buy Zone: 2338-2341
Entry Point: Initiate buy orders within the range of 2338 to 2341.
Rationale: This zone is identified as a potential support level where buying pressure is expected to increase. Historical price action indicates strong buying interest at this level, making it a strategic entry point for long positions.
Riding the Highs: Analysis of Havells' BreakthroughNSE:HAVELLS , a renowned player in the electrical equipment industry, has recently made waves in the stock market with its impressive performance. On February 27th, exactly two months ago, Havells broke out of its all-time high, surpassing strong previous resistance levels. This initial breakout was supported by robust trading volumes, indicating a strong buy-in from the market.
📊 Analysis
All-Time High Breakout : Initially, Havells made a significant leap by breaking its all-time high, which had acted as a robust resistance in the past.
Consolidation and Support : Following the breakout, the stock experienced a consolidation phase for about two months. During this period, it successfully tested the previous resistance, turned support, multiple times.
Formation of a Rectangle Pattern : In the recent trading sessions, Havells has formed a rectangle pattern within this consolidation phase. This pattern typically indicates a continuation in the direction of the prior trend.
Breakout with Volume : Just today, Havells broke out from the rectangle pattern and recorded a new all-time high, again accompanied by strong trading volumes. This suggests a renewal of investor interest and a potential upward trajectory.
Trading Insights
Given the recent breakout with considerable volume and the stock setting new highs, traders might consider this an opportune moment to look into initiating buy positions.
Lastly, Thank you for your support, your likes & comments. Feel free to ask if you have questions.
"In the waves of change, we find our true direction."
Note : This analysis is purely for educational purposes and is not intended as a trading or investment recommendation, as I am not a SEBI registered Analyst.
Book Of Meme Price Prediction: Can BOME Reclaim ATH? The Book Of Meme Price has surged nearly 34% in the last week showing resilience.
The BOME crypto was trading close to $0.011, recording a positive development of 2.16% in Intraday.
Book of Meme (BOME) might emerge as one such contender if Investors are looking for potential winners following the recent conclusion of the Bitcoin halving. BOME is a Solana-based meme coin that is currently trading at $0.01001. Although it has experienced minor fluctuations in the past day and week, it has seen an impressive surge of 917.24% since its inception.
As the market buzzes with speculations, investors are apprehensive about whether BOME will continue to provide impressive returns or lose the gains. Let's delve into further details to understand the potential of Book of Meme crypto in the upcoming sessions.
Book Of Meme Price Shows Resilience After A Significant Jump This Week!
BOME's price today stands at $0.01001, having experienced a positive development of 2.16% within the past day. Over the past week, the memecoin faced selling pressure, with its value dropping by nearly 40%. However, This week, the bulls made a comeback at the lower levels and BONk has managed to recover nearly 75% of the losses incurred in the last week.
Despite these short-term fluctuations, the overall trend remains largely positive, with a surge of 917.24% since its inception. This indicates BOME's potential and resilience.
According to CoinMarketCap, BOME is currently the 120th largest cryptocurrency, with a market capitalization of $620.59 million. Out of a total supply of 69 billion BOME tokens, 55.2 billion tokens are currently in circulation.
Although trading volume has decreased by 24.28% within the past 24 hours, BOME still maintains a healthy volume-to-market cap ratio of 44.26%. This suggests sustained interest and liquidity.
Book Of Meme Price Technical Outlook.
The RSI for BOME is at 53.98, indicating strong buying interest among users. Additionally, the SMA at 51.96 points has formed a bullish crossover with the RSI. This is often a sign of continued upward momentum in the absence of bearish signals.
In March, The higher RSI values led to a significant price correction. However, recent buying growth suggests that BOME's current RSI level could indicate sustained buying pressure rather than an imminent reversal.
Conclusion.
Book of Meme (BOME) is a Solana-based meme coin that has gained 917.24% since its inception. The crypto is currently trading at $0.01001, with a market capitalization of $620.59 million and 55.2 billion tokens in circulation.
Despite short-term fluctuations, the overall trend remains positive, indicating BOME's potential and resilience. The RSI for BOME is at 53.98, indicating strong buying interest among users, and the SMA has formed a bullish crossover with the RSI, suggesting continued upward momentum in the absence of bearish signals.
Technical levels:
Support levels: $0.0078 and $0.0015
Resistance levels: $0.0148 and $0.020
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
🚀 Stock Alert: Paradeep Phosphates - A Prime Buy Opportunity! Attention investors! 📈 Here's a golden nugget for your portfolio: Paradeep Phosphates is flashing a strong buy signal, and here's why:
Bouncing Back Strong: The stock has taken robust support at the lower band of its trading channel. Historically, this indicates a potential rebound and signals stability and strength.
Crossing a Critical Threshold: It's not just bouncing back; Paradeep Phosphates has also crossed over its 200-Day Exponential Moving Average (EMS). This is a significant move, suggesting a shift towards positive momentum and a bullish outlook.
What This Means: Combining these technical indicators, we see a clear signal of an opportune moment to buy. This isn't just about catching a rising stock; it's about strategic entry at a point that suggests promising upward momentum.
Action Step: If you've been waiting for the right moment to invest or looking to diversify with a strong candidate, Paradeep Phosphates presents a compelling case. Consider adding it to your portfolio to capitalize on the potential uptrend.
Remember, investing is about making informed decisions, and right now, the charts are speaking loud and clear. 📊✨
GLAXO / Glaxosmithkline Pharmaceuticals Ltd - 13 Years ConsolidaGLAXO
1) Time Frame - Monthly. Kindly change the time frame to weekly for better understanding.
2) 13 Years of consolidation (Since 2010) broken & Closed strong in WEEKLY time frame.
3) Stock will find its strong resistance / profit booking zone at the primary trendline in the long term.
4) Recommendation - Strong Buy
AFFLE INDIA LTD - Pattern BreakoutAFFLE INDIA LTD
1) Time Frame - Monthly.
2) Downtrend strong triangle pattern breakout.
3) Next target would be Previous All Time High - 1511.
4) Recommendation - Strong Buy
Resistance Levels in $NSE:ZOMATODear Followers,
I hope this message finds you well. I wanted to provide you with an update on the stock
ZOMATO
and discuss the current resistance levels that we've been monitoring.
After a thorough analysis of the stock's performance and market trends, I wanted to highlight the following key points:
Stock Performance: The stock has exhibited consistent growth over the past 1 Year, with a 71% increase in its value. This is a positive sign that indicates strong investor confidence and potential for further gains.
Resistance Levels:
My technical analysis reveals that the stock is currently approaching a key resistance level at 102-105. This level has historically acted as a barrier to upward movement, as investors have shown a tendency to take profits or hesitate to buy at this point.
Market Sentiment: It's important to consider the current market sentiment. Despite the stock's strong performance, there might be some caution among investors due to Profit Booking of Big Players
Short-Term Outlook: While the stock has the potential to breach the resistance level and continue its upward trajectory, if its Break resistance of 102-105 then Probably we can 120-130 Level. it's also prudent to be prepared for potential short-term fluctuations as the market digests recent gains.
Based on this analysis, I recommend that we closely monitor the stock's movement around the resistance level. Should the stock successfully break through this level and sustain its upward momentum, it could signal a strong buying opportunity. On the other hand, if we observe a significant pullback or consolidation around the resistance and it will try to test Downside of 85-80 Level, it might be a chance to reassess our strategy.
As always, I am here to provide you with any additional insights or answer any questions you may have. Your financial goals and risk tolerance are of utmost importance, and I am dedicated to helping you make informed investment decisions.
Please feel free to reach out at your convenience, and we can discuss how to proceed based on the stock's evolving performance.
Best regards,
Ajay Metha
