Shipping Corp (W) - Breaks Out on Massive 21% Weekly SurgeAfter a significant downtrend from its July 2024 All-Time High, the Shipping Corporation of India (SCI) has signaled a powerful bullish trend reversal, culminating in a decisive, high-volume breakout this past week.
The Bullish Reversal
The downtrend that began last year found its bottom in March 2025. Since then, the stock has been in a constructive reversal phase, systematically forming a series of Higher Lows . This classic pattern indicated that selling pressure was being absorbed and buyers were becoming more aggressive, setting the stage for a potential breakout.
This Week's Decisive Breakout
This past week (ending Oct 24, 2025), the bullish setup was decisively confirmed:
- Massive Price Surge: The stock exploded by +21.82% for the week.
- Enormous Volume: This move was backed by a huge volume of 107.25 million shares .
- Key Resistance Breach: The surge shattered a key horizontal resistance trendline , and importantly, the stock closed the week above this level , which is a strong sign of confirmation.
This breakout is powerfully supported by the volume pattern: after drying up during the consolidation phase, it has now picked up significantly, validating the move.
Underlying Technical Strength
The breakout is underpinned by strong momentum indicators on the higher timeframes:
- The short-term EMAs are in a bullish Positive Crossover (PCO) state on both the Monthly and Weekly charts.
- The Relative Strength Index (RSI) is also rising on both the Monthly and Weekly charts.
Outlook and Key Levels to Watch
With the resistance now cleared, the path of least resistance has shifted firmly upwards.
- Bullish Target: If this bullish momentum continues, the next logical area of resistance and potential price target is the ₹330 level.
- Critical Support: The recently broken resistance level, around ₹243 , now becomes the most critical new support zone to watch.
The key to watch for next week is follow-through buying or a successful retest of the ₹243 breakout level, which would further confirm the new uptrend.
