IOL CHEM AND PHARMA LTD (Weekly Chart) – Key Points
Trend:
The stock has finished a long consolidation (Wave ④) and is starting a new upward rally (Wave ⑤ expected).
Price Movement:
Current price: ₹101.47 after a recent sharp rise.
Important resistance to watch: ₹120–₹130 zone.
Momentum (RSI):
RSI at 67.59 — shows strong momentum.
Volume:
Rising volume near breakout, supporting the current price move.
Possible Scenarios:
If price breaks above ₹120–₹130 with good volume:
Likely starts a new strong rally (Wave ⑤).
Possible targets: ₹210–₹360.
If resistance holds and RSI turns overbought:
Short-term pullback or pause likely.
Support to watch: ₹90–₹100.
Summary:
The setup is bullish, but key resistance and overbought risks need monitoring before any new major upswing.
Trend:
The stock has finished a long consolidation (Wave ④) and is starting a new upward rally (Wave ⑤ expected).
Price Movement:
Current price: ₹101.47 after a recent sharp rise.
Important resistance to watch: ₹120–₹130 zone.
Momentum (RSI):
RSI at 67.59 — shows strong momentum.
Volume:
Rising volume near breakout, supporting the current price move.
Possible Scenarios:
If price breaks above ₹120–₹130 with good volume:
Likely starts a new strong rally (Wave ⑤).
Possible targets: ₹210–₹360.
If resistance holds and RSI turns overbought:
Short-term pullback or pause likely.
Support to watch: ₹90–₹100.
Summary:
The setup is bullish, but key resistance and overbought risks need monitoring before any new major upswing.
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.