PHOENIXLTD

Stuck in triangle but could be a bear move

The chart of The

(Daily, NSE) shows a long consolidation phase inside a symmetrical triangle pattern. The stock has been making lower highs from the 2,000 zone and higher lows from the 1,400 zone, gradually compressing into the apex. Currently, price is around 1,610, attempting to break the upper trendline but still hovering near resistance. A decisive breakout above 1,680–1,700 with volume could open the path toward 1,850–2,000, while failure to sustain may lead to another pullback toward 1,500–1,450 support. Price action suggests the stock is at a critical juncture, with the next major move likely to come from a breakout or breakdown from this triangle structure.