United Spirits Ltd. (NSE: MCDOWELL-N) - Technical Analysis
Key Observations:
1️⃣ Bullish RSI Divergence:
The RSI indicates a bullish divergence, suggesting potential reversal or upside momentum.
2️⃣ Breakout from Descending Channel:
After a period of consolidation within the descending channel, the stock has broken out, supported by improving momentum.
3️⃣ Volume Profile Support:
Strong accumulation zone observed between ₹1,440-₹1,490, indicating demand at these levels.
4️⃣ Fibonacci Levels:
Resistance levels are identified at ₹1,491, ₹1,541, ₹1,591, and ₹1,634 based on Fibonacci retracements.
5️⃣ Moving Averages:
The stock is trading above key short-term moving averages, reinforcing the positive trend.
Trading Strategy:
🚀 For Long Positions:
⚠️ Risk Management:
If the stock re-enters the descending channel, it could invalidate the bullish outlook. Monitor price action and volume closely.
Outlook:
With the RSI divergence, breakout confirmation, and strong support at ₹1,440, United Spirits Ltd. presents a promising bullish setup for short- to medium-term gains. Watch for sustained volume as the price approaches resistance levels.
💬 Your Thoughts?
What’s your take on this setup? Share your views below! 🚀
1️⃣ Bullish RSI Divergence:
The RSI indicates a bullish divergence, suggesting potential reversal or upside momentum.
2️⃣ Breakout from Descending Channel:
After a period of consolidation within the descending channel, the stock has broken out, supported by improving momentum.
3️⃣ Volume Profile Support:
Strong accumulation zone observed between ₹1,440-₹1,490, indicating demand at these levels.
4️⃣ Fibonacci Levels:
Resistance levels are identified at ₹1,491, ₹1,541, ₹1,591, and ₹1,634 based on Fibonacci retracements.
5️⃣ Moving Averages:
The stock is trading above key short-term moving averages, reinforcing the positive trend.
Trading Strategy:
🚀 For Long Positions:
- Entry Zone: ₹1,440–₹1,460 (if price sustains above breakout level).
- Targets: ₹1,491, ₹1,541, ₹1,591.
- Stop-Loss: ₹1,430 (below support zone).
⚠️ Risk Management:
If the stock re-enters the descending channel, it could invalidate the bullish outlook. Monitor price action and volume closely.
Outlook:
With the RSI divergence, breakout confirmation, and strong support at ₹1,440, United Spirits Ltd. presents a promising bullish setup for short- to medium-term gains. Watch for sustained volume as the price approaches resistance levels.
💬 Your Thoughts?
What’s your take on this setup? Share your views below! 🚀
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