This one is technically quite interesting.
The stock spent a long time inside a descending channel.
The important change is that price has recently moved above the short/medium-term moving averages.
Current price:
₹214.5
MAs:
₹197
₹180.8
₹182.1
So price has created a bullish MA configuration.
More importantly, RSI is:
64.5
with RSI average around 56.7.
That's strong momentum.
But importantly, RSI isn't yet >70.
Key observation
The stock appears to be attempting to transition:
Downtrend → Base → Breakout → Retest → Uptrend
That's exactly the sequence I like to see.
Levels
₹197–200
= first support.
₹180–183
= major structural support.
₹220–225
= immediate breakout confirmation.
Above ₹225:
Targets
₹250
then
₹280–300
and potentially
₹320+
if the larger downtrend line is decisively broken.
Verdict
⭐⭐⭐⭐
EARLY REVERSAL / BUY ON CONFIRMATION
Interesting risk-reward profile, provided ₹197–200 holds.
The stock spent a long time inside a descending channel.
The important change is that price has recently moved above the short/medium-term moving averages.
Current price:
₹214.5
MAs:
₹197
₹180.8
₹182.1
So price has created a bullish MA configuration.
More importantly, RSI is:
64.5
with RSI average around 56.7.
That's strong momentum.
But importantly, RSI isn't yet >70.
Key observation
The stock appears to be attempting to transition:
Downtrend → Base → Breakout → Retest → Uptrend
That's exactly the sequence I like to see.
Levels
₹197–200
= first support.
₹180–183
= major structural support.
₹220–225
= immediate breakout confirmation.
Above ₹225:
Targets
₹250
then
₹280–300
and potentially
₹320+
if the larger downtrend line is decisively broken.
Verdict
⭐⭐⭐⭐
EARLY REVERSAL / BUY ON CONFIRMATION
Interesting risk-reward profile, provided ₹197–200 holds.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.