The stock remains in a well-established long-term uptrend, trading within a defined ascending channel. Following a strong rally, the recent price correction appears to be a healthy retracement rather than a change in the prevailing trend.
The 295–300 zone represents a critical short-term support area, coinciding with the rising trendline and acting as a key level to monitor for potential buying interest. A sustained hold above this range could support the continuation of the broader upward movement.
From a medium-term perspective, the 260–270 zone serves as a major structural support area. As long as the stock remains above this level, the overall bullish outlook remains intact.
Upside objectives are placed near 344 and 370, while the current trend structure continues to favor buyers above the identified support zones.
Conclusion
The ongoing pullback should be viewed within the context of a broader uptrend. Market participants may closely watch the 295–300 support region for signs of stabilization, as a positive price reaction from this area could pave the way for the next leg of the upward move.
Thank you !!
The 295–300 zone represents a critical short-term support area, coinciding with the rising trendline and acting as a key level to monitor for potential buying interest. A sustained hold above this range could support the continuation of the broader upward movement.
From a medium-term perspective, the 260–270 zone serves as a major structural support area. As long as the stock remains above this level, the overall bullish outlook remains intact.
Upside objectives are placed near 344 and 370, while the current trend structure continues to favor buyers above the identified support zones.
Conclusion
The ongoing pullback should be viewed within the context of a broader uptrend. Market participants may closely watch the 295–300 support region for signs of stabilization, as a positive price reaction from this area could pave the way for the next leg of the upward move.
Thank you !!
@RahulSarawagi
Connect us at optionlab.co.in/
Connect us at optionlab.co.in/
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.
@RahulSarawagi
Connect us at optionlab.co.in/
Connect us at optionlab.co.in/
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.