Lenskart Solutions Limited (Daily Chart)

CMP: ~₹539 Structure: Rising Channel (Short-Term Uptrend) Timeframe: Daily 🟢 What’s Happening Price is moving inside a clean ascending channel: Higher highs Higher lows Respecting lower trendline Currently near upper boundary Momentum has expanded in the last few sessions. This is controlled trend behavior — not random volatility. 📐 Measured Upside Channel width ≈ ₹60–₹70 If breakout above channel top sustains: 🎯 ₹600–₹620 (initial target) Your projection (~₹610–₹620) is technically valid. Upside potential ≈ 12–13%. 🔥 Strength Factors ✔ Strong bullish candle recently ✔ No deep retracement ✔ Tight consolidation before expansion ✔ Price riding mid-channel support This is classic trend continuation structure. ⚠️ What To Watch Current price is near upper channel resistance. Two scenarios: 1️⃣ Breakout above channel → Acceleration toward ₹600+ 2️⃣ Rejection at upper band → Pullback toward ₹500–₹510 (mid/lower channel) 📊 Key Levels Immediate Support: ₹515 Channel Support: ₹490–₹500 Major Support: ₹460 Invalidation: Daily close below ₹485 weakens trend. 🧠 Character of This Stock Compared to your recent weekly breakout charts: This is short-term momentum trade Not yet a large structural base breakout Faster moving, but smaller move potential Best suited for 2–4 week swing rather than long positional hold (unless weekly structure also confirms). 🎯 Strategy View Aggressive: Hold while inside channel Conservative: Buy on pullback to lower channel Breakout Add: Above ₹550–₹560 with strong volume