Technical Analysis Billionbrains Garage Ventures

The stock

is daily chart the stock experienced a massive upward jump with very high trading volume a few months ago around late November/early December. Following that big move the stock has been taking a breather. It is currently moving sideways in what we call a consolidation phase bouncing up and down within a broad range. Resistance the immediate hurdle for the stock is around ₹170 to ₹180. Every time it reaches near this zone recently sellers step in. If the price can break above ₹180 with strong volume it might try to test its previous peak near ₹190+. Support if the price starts falling it has immediate support around ₹150. Buyers have stepped in near this area recently. If it drops below that the next strong safety net is lower around the ₹140 mark. Looking at the bars at the bottom of the chart the trading volume was huge during the initial price spike. Recently however the volume bars are very low. This shrinking volume during sideways movement is normal it confirms that the stock is resting and waiting for a new catalyst before making its next big move in either direction. A bullish sign would be a breakout above ₹170–₹180 supported by a noticeable increase in volume. A bearish sign would be a breakdown below the ₹150–₹140 support levels. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.