REMUS Diwali Pick 2024Stock Analysis and Trade Setup
This chart shows a steady uptrend with well-defined support and resistance levels:
• Bullish Scenario : The price is holding above the ascending trendline, suggesting continued bullish momentum. A breakout above the 2,780.45 resistance level could provide an entry for long positions, targeting the next resistance at 2,834.6. Further gains could aim for the psychological level around 3,272.1.
• Bearish Scenario : A breakdown below the key support at 2,530.8 may signal a potential reversal. Watch for a short opportunity below this level, with a further downside target around 2,299.15 if bearish momentum strengthens.
The RSI shows some room for further upside, though it’s nearing overbought territory. Monitor volume for confirmation of breakouts or breakdowns as you plan your trades.
Disclaimer: This analysis is for educational purposes only. Please conduct your own research before making any trading decisions.
