On the weekly chart, the stock has been in a clear downtrend for a long time, which is visible from the consistent lower highs and the falling trendline. Recently, price has reached a strong support / demand zone around ₹5,200–₹5,500, where selling pressure seems to be slowing down.
Near this zone, the stock is trying to stabilize and form a base, suggesting that sellers are getting exhausted. If the price manages to break and sustain above the falling trendline, it could indicate a trend reversal and a fresh upside move. In that case, the stock may gradually move towards the ₹6,800–₹7,500 levels in the medium term.
However, if the support zone fails to hold, the stock may continue sideways or see another leg of decline before any meaningful recovery.
Disclaimer
This analysis is for educational purposes only and should not be considered as investment advice.
Near this zone, the stock is trying to stabilize and form a base, suggesting that sellers are getting exhausted. If the price manages to break and sustain above the falling trendline, it could indicate a trend reversal and a fresh upside move. In that case, the stock may gradually move towards the ₹6,800–₹7,500 levels in the medium term.
However, if the support zone fails to hold, the stock may continue sideways or see another leg of decline before any meaningful recovery.
Disclaimer
This analysis is for educational purposes only and should not be considered as investment advice.
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.