* Trend Overview:
* The stock has been in a downtrend over the past 2 months.
* Recently, it has broken the downward trendline and successfully retested the breakout, indicating a potential reversal.
* Current Price Action:
* Breakout above trendline confirms bullish momentum.
* The retest held above the trendline, adding further confidence for long positions.
* Support & Stop-Loss:
* Key support level identified at ₹8,250 – has acted as a demand zone in recent sessions.
* A stop-loss should be placed just below ₹8,250 to manage risk effectively.
* Target Levels:
* 🎯 Target 1: ₹8,490
* 🎯 Target 2: ₹8,755
* Important Note:
* ⚠️ Due to ongoing global geopolitical tensions, the overall market may remain volatile.
* Trade with proper risk management and position sizing.
* The stock has been in a downtrend over the past 2 months.
* Recently, it has broken the downward trendline and successfully retested the breakout, indicating a potential reversal.
* Current Price Action:
* Breakout above trendline confirms bullish momentum.
* The retest held above the trendline, adding further confidence for long positions.
* Support & Stop-Loss:
* Key support level identified at ₹8,250 – has acted as a demand zone in recent sessions.
* A stop-loss should be placed just below ₹8,250 to manage risk effectively.
* Target Levels:
* 🎯 Target 1: ₹8,490
* 🎯 Target 2: ₹8,755
* Important Note:
* ⚠️ Due to ongoing global geopolitical tensions, the overall market may remain volatile.
* Trade with proper risk management and position sizing.
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.
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.