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.
Penafian
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Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.