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๐น Price Action
The stock closed at โน401.90 (+10.96%), with strong bullish momentum this week. Price has been consolidating in a sideways Darvas Box (โน333 โ โน420) for months. Now, a fresh breakout attempt is underway.
๐น Technical View
Support Levels: โน333 โ โน300
Resistance Levels: โน420 โ โน487
Patterns:
Sideways consolidation range (โน333 โ โน420).
Current weekly candle testing the upper band of the box.
Sustained move above โน420 can trigger a rally towards โน487.
๐น Indicators
RSI (51.38) shows bullish divergence, moving up from higher lows.
Volume spike confirms buying interest (highlighted in orange).
Price action supported by RSI momentum โ early strength.
๐น Strength & Weakness
โ Bullish RSI divergence.
โ Fresh volume confirmation โ signs of accumulation.
โ Breakout zone tested โ a close above โน420 will be key.
โ ๏ธ Still inside the consolidation box; rejection at โน420 can cause retest towards โน360โโน333.
๐น Outlook
Short Term: Watch for โน420 breakout confirmation.
Medium Term: Breakout above โน420 โ move towards โน487.
Risk: Stay cautious if it falls below โน333, as weakness may resume.
๐ข Disclaimer: Educational analysis only, not investment advice.
๐งโ๐ผ Rajneesh Sharma โ SEBI Registered Research Analyst (Reg. No. INH000020332).
๐ Stock market investments are subject to market risks.