Currency Grow (CA & SEBI Reg IA Omkar Bhutada) · 7th Oct
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.