TTML: Pennant Breakout Signals Potential Upside
On the daily chart, TTML has recently exhibited a breakout from a pennant formation , a pattern often associated with potential continuation of the prevailing trend. This breakout is accompanied by a notable increase in trading volume, which may indicate growing market interest and participation.
Additionally, the price action has shown support at the 200-day EMA, a widely observed long-term trend indicator. This confluence of technical signals may suggest a strengthening bullish sentiment.
From a momentum perspective, both the RSI and MACD indicators are currently positioned in bullish territory on both the daily and weekly timeframes. This alignment across multiple timeframes can be interpreted as a sign of potential trend continuation.
Looking ahead, the price may revisit the ₹75 level, which could act as a demand zone. Should the stock manage to close and sustain above ₹76.40 , the next potential resistance levels to monitor are around ₹84.93 and ₹96.95 . For risk management, a suggested stop-loss level could be considered below ₹62 , based on recent support structures.
Disclaimer: This analysis is intended solely for informational and educational purposes. It does not constitute investment advice or a recommendation to buy or sell any financial instrument. Market participants are encouraged to conduct their own research or consult with a licensed financial advisor before making any investment decisions.
