The stock has been trading around ₹644, near its previous high. There is a marked upward projection of 23.70% (154.25 points), indicating a potential target price of ₹800. Support Level:
A previous support level can be seen near ₹475, as indicated by the significant fall of 25.83% (-168.65 points) in the earlier period. This forms a strong historical support zone. Potential Move:
The chart shows a possible upward movement of 23.7%, suggesting that the price could rise to ₹800 if it breaks above the resistance level. If the stock faces downside pressure, it could revisit earlier support zones around ₹475-₹500. Volume Indicator (CVD - Cumulative Volume Delta):
The CVD shows a significant selling pressure with -315.539K, indicating a bearish sentiment in the market for now. Analysis: Bullish Scenario: If the stock breaks through its current resistance at ₹644, it may move towards ₹800, gaining about 23.7% from the current price. Bearish Scenario: On the downside, there’s a risk of a pullback to around ₹475-₹500 if the stock does not sustain above ₹644. Neutral Scenario: The stock is at a critical level near ₹644, which is a pivot zone for deciding the next major trend. Conclusion: The stock is currently positioned at a key level, and the next move could either be a breakout towards ₹800 or a retracement towards its support zone near ₹475. Watch for price action and volume to confirm the next trend. The 23.7% target price gain is appealing for a bullish move, while the downside risk remains at about 25.83%.