Technical Analysis
Chart Observations:
Price: Closed at ₹151.53
Candle: Strong green candle, breaking recent resistance
Volume: Healthy volume (approx. 4.92M) — confirms price action
RSI: 61.59 — bullish but not yet overbought, still room to go
Structure: Ascending structure since early Feb 2025 — higher highs and higher lows forming.
Key Levels
Immediate ResistanceL: ₹153.50–₹155 Watch for breakout confirmation
Major Resistance: ₹163–₹165 Gap area and previous breakdown zone
Support: ₹147–₹148.5 Last consolidation area
Strong Support: ₹141.50–₹143 Higher low and volume cluster
Trade Setup:
1. Breakout Play
Entry: ₹153.60+ (on strong candle & volume)
SL: ₹147.90
Target 1: ₹158
Target 2: ₹163+
2. Pullback Entry
Entry Zone: ₹147.50–₹149
SL: ₹144.50
Target: ₹153 first, trail after
Additional Chart Insights:
Chart Observations:
Price: Closed at ₹151.53
Candle: Strong green candle, breaking recent resistance
Volume: Healthy volume (approx. 4.92M) — confirms price action
RSI: 61.59 — bullish but not yet overbought, still room to go
Structure: Ascending structure since early Feb 2025 — higher highs and higher lows forming.
Key Levels
Immediate ResistanceL: ₹153.50–₹155 Watch for breakout confirmation
Major Resistance: ₹163–₹165 Gap area and previous breakdown zone
Support: ₹147–₹148.5 Last consolidation area
Strong Support: ₹141.50–₹143 Higher low and volume cluster
Trade Setup:
1. Breakout Play
Entry: ₹153.60+ (on strong candle & volume)
SL: ₹147.90
Target 1: ₹158
Target 2: ₹163+
2. Pullback Entry
Entry Zone: ₹147.50–₹149
SL: ₹144.50
Target: ₹153 first, trail after
Additional Chart Insights:
- RSI is in bull zone (above 60) — shows growing momentum
- Structure resembles an inverse head & shoulders in formation — bullish reversal pattern
- Volume spikes seen on bullish days — demand is active
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.