Weekly Chart Analysis
1. **Trend Analysis:**
- Achieved a peak of 2762 in January 2021.
- Subsequently, the stock has sustained a negative trend over the past two years.
- Recorded a low of 1213, signifying a notable 56% retracement from its highest point.
2. **Critical Support Levels:**
- Identifying a pivotal support range at Rs. 1242 to Rs. 1265.
- Anticipating a potential reversal from this support level.
- In the event of a breach above this support, a cautious approach is recommended, with attention drawn to the range of Rs. 1060 to Rs. 1095.
3. **RSI Divergence Analysis:**
- If the stock descends to the 1100 level, a meticulous examination of RSI divergence is advised.
- Positive divergence on the RSI could serve as an indicator for a potential reversal point.
4. **Price Resistance Levels:**
- Key resistance levels to monitor:
1. Rs. 1790 to Rs. 1821
2. Rs. 2110 to Rs. 2150.
5. **Strategic Time Frame:**
- The comprehensive analysis is projected over a strategic timeline of 6 to 24 months, offering a well-defined outlook for investors and stakeholders.
1. **Trend Analysis:**
- Achieved a peak of 2762 in January 2021.
- Subsequently, the stock has sustained a negative trend over the past two years.
- Recorded a low of 1213, signifying a notable 56% retracement from its highest point.
2. **Critical Support Levels:**
- Identifying a pivotal support range at Rs. 1242 to Rs. 1265.
- Anticipating a potential reversal from this support level.
- In the event of a breach above this support, a cautious approach is recommended, with attention drawn to the range of Rs. 1060 to Rs. 1095.
3. **RSI Divergence Analysis:**
- If the stock descends to the 1100 level, a meticulous examination of RSI divergence is advised.
- Positive divergence on the RSI could serve as an indicator for a potential reversal point.
4. **Price Resistance Levels:**
- Key resistance levels to monitor:
1. Rs. 1790 to Rs. 1821
2. Rs. 2110 to Rs. 2150.
5. **Strategic Time Frame:**
- The comprehensive analysis is projected over a strategic timeline of 6 to 24 months, offering a well-defined outlook for investors and stakeholders.