Torrent Pharmaceuticals Ltd Technical Analysis, Strong Bullish Structure

The stock

has transitioned from a consolidation phase between 3,500 and 3,700 into a clear uptrend. Price is trading well above the short-term moving average which signals continued bullish strength. The slope of the EMA is upward confirming trend continuation. The Breakout In early November, there was a significant breakout accompanied by a spike in volume which flipped the previous resistance into support. The price is currently trading near its recent highs 4,079. It is consolidating in a tight range at the top, which often suggests a bullish flag or pennant formation which shows further upside momentum. The volume bars at the bottom show significant green spikes during upward moves. This indicates institutional accumulation. Notice that during the recent sideways consolidation in February the volume has dried up this is a healthy sign suggesting that sellers are not aggressive at these high levels. If it gives a breakout above 4100 then it can easily move towards 4200 and 4300.