💊 IOL Chemicals & Pharmaceuticals – Breakout Attempt with Retest

🔹 Price Action CMP: ₹105.66 (+1.72%). Price recently broke out above ₹100 supply zone, retesting support after a sharp spike. Weekly structure shows multi-year base formation with higher volumes. 🔹 Technical Observations Pattern: Long-term base with horizontal breakout above ₹100. Volume: Strong surge on breakout weeks, indicating accumulation. RSI: At ~59, recently cooled from 62 – still above midline, momentum intact. MACD: Positive crossover, histogram expanding, momentum building. OBV/Strength Indicator: Trending positive, confirming demand. 🔹 Key Levels Immediate Resistance: ₹115–118. Major Resistance: ₹125–130. Immediate Support: ₹100. Major Support: ₹85. 🔹 Strength & Risk ✅ Strong volume-backed breakout from ₹100 zone. ✅ Indicators supportive (RSI > 50, MACD bullish). ❌ Overhead supply at ₹115–130 could slow momentum. ❌ Breakdown below ₹100 may trap recent longs. 🔹 Outlook Short Term: Positive bias; close above ₹115 may lead to ₹125+. Medium Term: Sustained move above ₹130 can extend rally towards ₹150+. Risk: Failure to hold ₹100 will weaken the breakout setup. 📌 Strategy Traders: Watch for breakout retest above ₹100–105 with fresh volume. Investors: Accumulate near ₹100–105 zone, keeping SL below ₹85. 📢 Disclaimer: This is educational analysis, not investment advice. 🧑‍💼 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332).