Currently, the stock is completing a falling wedge pattern, which is a bullish pattern.
All important levels have been marked on the chart.
Looking at the chart, we can say that if the price sustains above ₹414, there is a high probability that the stock will reach the ₹576 target.
For the past few days, volume has increased, confirming the breakout. If we enter the stock at ₹414, we can achieve the target with
Risk: Reward :: 1 : 6.3
Reasons:
✅ Breakout from falling wedge – a strong bullish signal
✅ Price crossed above the 50-day EMA, confirming trend reversal
✅ RSI is above 63, indicating bullish momentum
✅ Stock is above the 200-day EMA, signaling long-term strength
✅ Volume surge confirms buyer interest
Verdict: Bullish
Plan of Action:
Enter once the breakout is confirmed above ₹414
BUY: ₹414
Stoploss: ₹386
Target: ₹576
Trailing SL: ₹390
All important levels have been marked on the chart.
Looking at the chart, we can say that if the price sustains above ₹414, there is a high probability that the stock will reach the ₹576 target.
For the past few days, volume has increased, confirming the breakout. If we enter the stock at ₹414, we can achieve the target with
Risk: Reward :: 1 : 6.3
Reasons:
✅ Breakout from falling wedge – a strong bullish signal
✅ Price crossed above the 50-day EMA, confirming trend reversal
✅ RSI is above 63, indicating bullish momentum
✅ Stock is above the 200-day EMA, signaling long-term strength
✅ Volume surge confirms buyer interest
Verdict: Bullish
Plan of Action:
Enter once the breakout is confirmed above ₹414
BUY: ₹414
Stoploss: ₹386
Target: ₹576
Trailing SL: ₹390
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.