✅The stock has been in a descending triangle pattern, typically a bearish formation, but it is currently testing the upper trendline for a potential breakout. The descending triangle pattern is identified by lower highs converging with a flat support level.
✅The 50 EMA and the ascending support line have provided solid support for the stock. The liquidity zone around ₹750 has also acted as a crucial support area, indicating strong buying interest at these levels.
✅There is a noticeable increase in volume as the stock approaches the upper trendline, suggesting that buyers are stepping in. A volume spike during a breakout attempt indicates strong market interest and potential for a sustained move.
✅The RSI has started to trend upwards from below 40 and is currently around 58 indicating a shift towards bullish momentum. An RSI moving from oversold to above 50 suggests increasing buying strength.
✅The 50 EMA and the ascending support line have provided solid support for the stock. The liquidity zone around ₹750 has also acted as a crucial support area, indicating strong buying interest at these levels.
✅There is a noticeable increase in volume as the stock approaches the upper trendline, suggesting that buyers are stepping in. A volume spike during a breakout attempt indicates strong market interest and potential for a sustained move.
✅The RSI has started to trend upwards from below 40 and is currently around 58 indicating a shift towards bullish momentum. An RSI moving from oversold to above 50 suggests increasing buying strength.
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A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
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A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
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Join our community in telegram for real time updates --- telegram.me/marketiik
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.