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.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.