The stock is currently following a strong uptrend, forming higher highs and higher lows since April. After a recent correction (Wave 4), it’s showing signs of starting a new upward move, supported by a breakout and a spike in trading volume.
The chart structure suggests the stock is in the final leg of a 5-wave impulse pattern, with the next resistance targets at around ₹96 and an extended zone near ₹107–108, based on typical Fibonacci projections for Wave 5.
Rising volume as price bounces from recent lows indicates renewed buying interest and suggests the move could have momentum behind it.
Currently, the main support to watch is near ₹77.5–78 (recent Wave 4 low). As long as the price stays above this zone, the bullish trend remains intact.
Immediate upside resistance is around ₹96, with ₹107–108 as the higher target if bullish momentum continues.
If there’s a pullback toward support zones and the price stabilizes, it could offer new buying opportunities. A sustained drop below ₹77.5 would make me reconsider the bullish view.
Summary:
Lloyds Enterprises Ltd appears poised for another upward leg, aiming for ₹96 and potentially higher if the uptrend continues. Volume and technical momentum support this outlook, but I will monitor the ₹77–78 support area closely as a key pivot for managing risk.
The chart structure suggests the stock is in the final leg of a 5-wave impulse pattern, with the next resistance targets at around ₹96 and an extended zone near ₹107–108, based on typical Fibonacci projections for Wave 5.
Rising volume as price bounces from recent lows indicates renewed buying interest and suggests the move could have momentum behind it.
Currently, the main support to watch is near ₹77.5–78 (recent Wave 4 low). As long as the price stays above this zone, the bullish trend remains intact.
Immediate upside resistance is around ₹96, with ₹107–108 as the higher target if bullish momentum continues.
If there’s a pullback toward support zones and the price stabilizes, it could offer new buying opportunities. A sustained drop below ₹77.5 would make me reconsider the bullish view.
Summary:
Lloyds Enterprises Ltd appears poised for another upward leg, aiming for ₹96 and potentially higher if the uptrend continues. Volume and technical momentum support this outlook, but I will monitor the ₹77–78 support area closely as a key pivot for managing risk.
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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.