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Unite Technologies Financial

22nd Aug · SEBI-Registered Analyst

Understanding Technical Analysis India Glycols

The stock

INDIAGLYCO
is showing a bullish structure on the daily chart. After finding strong support around ₹800–850 the stock has formed a series of higher highs and higher lows. The recent correction from ₹1200 towards ₹1050 was followed by a strong recovery and the stock is again trading near ₹1145. This indicates that buyers are still active. Support & Resistance: Immediate support is around ₹1100–1080 followed by stronger support near ₹1040–1020. On the upside ₹1180–1200 is the key resistance zone. A strong daily close above ₹1200 with good volume can open the way towards ₹1250–1300. Short-Term Outlook: The setup remains bullish above ₹1080. Fresh buyers can wait for a breakout above ₹1,200 with volume, or look for a pullback towards ₹1100–1080 with a bullish reversal. Existing holders can continue holding with a trailing stop-loss around ₹1040. A decisive close below ₹1040 would weaken the bullish structure and could lead to a deeper correction towards ₹1000–980.

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