📊 Technical Analysis: Intellect Design Arena (NSE: INTELLECT)
🧠 Chart Pattern: Descending Resistance Line Breakout
The stock has been facing resistance from a descending trendline connecting multiple lower highs from March 2024 until now.
Recently, the price has closed just above this descending resistance line around the ₹1,020–₹1,030 level, indicating a potential breakout.
🚀 Breakout Details (May 15, 2025):
Close: ₹1,025.65
Day’s Move: +₹49.75 (+5.10%)
Volume: 1.88M — above average, supporting the breakout attempt.
📌 Technical Signals:
A break above the descending trendline resistance signals a possible end to the downtrend.
The increase in volume confirms the breakout attempt is backed by strong buying interest.
The stock has shown strong momentum, climbing steadily from lows near ₹600 earlier in 2025.
🎯 Potential Upside Target:
The breakout opens up room for a move towards previous highs around:
Target 1: ₹1,100
Target 2: ₹1,200+ based on earlier resistance peaks.
🛡️ Support Levels:
Immediate support is expected near the breakout zone around ₹1,000–₹1,020.
Holding above this trendline now turned support would validate the breakout.
🧠 Chart Pattern: Descending Resistance Line Breakout
The stock has been facing resistance from a descending trendline connecting multiple lower highs from March 2024 until now.
Recently, the price has closed just above this descending resistance line around the ₹1,020–₹1,030 level, indicating a potential breakout.
🚀 Breakout Details (May 15, 2025):
Close: ₹1,025.65
Day’s Move: +₹49.75 (+5.10%)
Volume: 1.88M — above average, supporting the breakout attempt.
📌 Technical Signals:
A break above the descending trendline resistance signals a possible end to the downtrend.
The increase in volume confirms the breakout attempt is backed by strong buying interest.
The stock has shown strong momentum, climbing steadily from lows near ₹600 earlier in 2025.
🎯 Potential Upside Target:
The breakout opens up room for a move towards previous highs around:
Target 1: ₹1,100
Target 2: ₹1,200+ based on earlier resistance peaks.
🛡️ Support Levels:
Immediate support is expected near the breakout zone around ₹1,000–₹1,020.
Holding above this trendline now turned support would validate the breakout.
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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.