Chart Overview
The price has been moving inside a descending trendline (falling wedge–like structure) since its peak earlier this year. Currently, the stock is once again testing a strong horizontal support zone around ₹132–135, which has acted as demand multiple times in the past.
This confluence of major support + wedge bottom makes this zone important for a potential bullish reversal.
🟩 Bullish Argument:
This zone offers a potential bullish opportunity because:
Price is sitting at strong demand zone (132–135).
The falling wedge structure is typically a bullish pattern.
RSI oversold → Possible reversal territory.
MACD is setting up for a future bullish crossover.
Risk–reward becomes favorable near major support.
🟧 What Bulls Want to See
A bounce from the ₹132–135 zone.
A close above the recent minor swing high on the daily.
Breakout above the descending trendline for positional upside.
🟥 Invalidity (When Idea Fails)
A daily close below ₹130 with volume would weaken the bullish case.
That would indicate breakdown from support instead of reversal.
📈 Potential Targets (if reversal occurs)
T1: ₹145
T2: ₹155
T3: Trendline breakout → ₹165+
⚠️ Disclaimer
This is not financial advice; for educational purposes only. Always manage risk.
The price has been moving inside a descending trendline (falling wedge–like structure) since its peak earlier this year. Currently, the stock is once again testing a strong horizontal support zone around ₹132–135, which has acted as demand multiple times in the past.
This confluence of major support + wedge bottom makes this zone important for a potential bullish reversal.
🟩 Bullish Argument:
This zone offers a potential bullish opportunity because:
Price is sitting at strong demand zone (132–135).
The falling wedge structure is typically a bullish pattern.
RSI oversold → Possible reversal territory.
MACD is setting up for a future bullish crossover.
Risk–reward becomes favorable near major support.
🟧 What Bulls Want to See
A bounce from the ₹132–135 zone.
A close above the recent minor swing high on the daily.
Breakout above the descending trendline for positional upside.
🟥 Invalidity (When Idea Fails)
A daily close below ₹130 with volume would weaken the bullish case.
That would indicate breakdown from support instead of reversal.
📈 Potential Targets (if reversal occurs)
T1: ₹145
T2: ₹155
T3: Trendline breakout → ₹165+
⚠️ Disclaimer
This is not financial advice; for educational purposes only. Always manage risk.
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免責事項
この情報および投稿は、TradingViewが提供または推奨する金融、投資、トレード、その他のアドバイスや推奨を意図するものではなく、それらを構成するものでもありません。詳細は利用規約をご覧ください。