🔍 Analysis:
Cup Formation:
The rounding bottom or "cup" pattern suggests accumulation and a potential reversal.
The breakout above the cup’s lip (~₹475) is confirmed with volume.
Price has tested the ₹575 zone but faced resistance.
Volume Analysis:
Noticeable volume spike during the upward breakout phase confirms buying interest.
Sustained volume will be essential for a move towards ATH (All-Time High).
RSI Indicator:
RSI at 68.53 indicates strong momentum.
RSI-based MA at 73 shows it's nearing overbought territory. A minor pullback/consolidation is possible.
Trendlines:
Downward sloping trendline (dotted) was broken convincingly—bullish signal.
Parabolic arc trajectory towards ATH (~₹807) has been drawn to project potential.
ATH Potential:
"IT CAN REACH ATH VERY SOON" is speculative but supported technically if it sustains above ₹575 and breaks it with volume.
Cup Formation:
The rounding bottom or "cup" pattern suggests accumulation and a potential reversal.
The breakout above the cup’s lip (~₹475) is confirmed with volume.
Price has tested the ₹575 zone but faced resistance.
Volume Analysis:
Noticeable volume spike during the upward breakout phase confirms buying interest.
Sustained volume will be essential for a move towards ATH (All-Time High).
RSI Indicator:
RSI at 68.53 indicates strong momentum.
RSI-based MA at 73 shows it's nearing overbought territory. A minor pullback/consolidation is possible.
Trendlines:
Downward sloping trendline (dotted) was broken convincingly—bullish signal.
Parabolic arc trajectory towards ATH (~₹807) has been drawn to project potential.
ATH Potential:
"IT CAN REACH ATH VERY SOON" is speculative but supported technically if it sustains above ₹575 and breaks it with volume.
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.