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CA Omkar Bhutada - SEBI Reg IA

7th Oct · SEBI-Registered Analyst

Here’s a concise technical + structural analysis of your chart on Supreme Industries Ltd. (NSE: SUPREMEIND) 👇

SUPREMEIND
🔍 Chart Analysis Summary Structure: Range-Bound Accumulation Phase Range: ₹4,110 – ₹4,732 Current Price: ₹4,264 Indicators: Green Line: AVWAP support from recent swing (around ₹4,110) Blue Line: 200-Day SMA at ₹3,552 (long-term trend still intact) 📊 Interpretation The stock is currently oscillating inside a rectangular consolidation zone (₹4,110–₹4,732). Multiple rejections at ₹4,732 indicate strong supply/resistance. The AVWAP zone near ₹4,110 has provided consistent buying support, showing accumulation by strong hands. Price bounced today with good volume confirmation, signaling short-term strength from support. 📈 Outlook Bullish Bias if price sustains above ₹4,110 and breaks ₹4,732 with volume — potential upside to ₹5,000+. Bearish Risk if the stock closes below ₹4,100 — could retest ₹3,850–₹3,900 near the 200 DMA.

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