“Bombay Dyeing – Breaking Past Resistance”

📊 Technical View 1️⃣ Price Setup: CMP: ₹178.91 (+2.9% today). Stock has been in an uptrend from the May 2025 lows near ₹110 → ~60% rise. Now retesting and attempting to break above the resistance zone around ₹174–175. 2️⃣ Moving Averages: 200-day EMA at ₹122 → price trading well above, showing long-term strength. Short-term momentum is building as price stays above ₹170. 3️⃣ Volume Action: Volume spike visible in early August during the first breakout attempt. Needs sustained volume above ₹175 to confirm breakout. 4️⃣ Key Levels: Immediate Resistance: ₹180–185. Support: ₹170 (recent breakout zone) & ₹155 (swing low). If breakout sustains → upside target: ₹200–220. If rejected → price may retest ₹155. 🚀 Learning Takeaway Old resistance often becomes new support when broken (₹174 zone is crucial). Sustained momentum + volume confirmation is key for a trend continuation breakout.