Concord Biotech is forming a bullish rounding-bottom pattern and has recently pierced the primary descending trendline with a close above it, indicating improving price structure.
The ₹1,420 zone is the key horizontal resistance. A sustained close above ₹1,420 could confirm the breakout and potentially bring further bullish momentum.
On the downside, ₹1,250–₹1,225 can be considered the key bullish order-block/demand zone. This area represents an important base from which the recent recovery developed. Holding this zone on any corrective move would keep the bullish structure intact, while a decisive breakdown below it would weaken the setup.
Technical view: Positive above ₹1,420 on sustained basis; ₹1,250–₹1,225 remains the key demand/support zone.
Educational purpose only. This is a technical-analysis view based on the chart provided and is not investment advice or a recommendation to buy, sell, or hold any security. Prepared in accordance with the stated SEBI RA educational context.
The ₹1,420 zone is the key horizontal resistance. A sustained close above ₹1,420 could confirm the breakout and potentially bring further bullish momentum.
On the downside, ₹1,250–₹1,225 can be considered the key bullish order-block/demand zone. This area represents an important base from which the recent recovery developed. Holding this zone on any corrective move would keep the bullish structure intact, while a decisive breakdown below it would weaken the setup.
Technical view: Positive above ₹1,420 on sustained basis; ₹1,250–₹1,225 remains the key demand/support zone.
Educational purpose only. This is a technical-analysis view based on the chart provided and is not investment advice or a recommendation to buy, sell, or hold any security. Prepared in accordance with the stated SEBI RA educational context.
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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.