Vivek kumar
16 Sep • 9:05 PM · SEBI-Registered Analyst
this stock hits 52 week high !! chart analysis
Support & Resistance Resistance 1: ₹1,855–₹1,860 This is the fresh 52-week-high zone. A decisive close above this area would establish another breakout level. Resistance 2: ₹1,900 ₹1,900 is a psychological round-number level. Such levels can attract profit booking because traders frequently place orders around large round numbers. Resistance 3: ₹2,000 ₹2,000 would become the next major psychological reference if the momentum continues. On the downside: Support 1: ₹1,800 This is the first zone to monitor after the current breakout. Support 2: ₹1,700–₹1,720 A deeper retracement toward this area would test whether the broader momentum structure remains intact. 4️⃣ Volume Confirmation A breakout is generally more convincing when accompanied by strong trading activity. The September 16 rally was significant enough to push PAYTM to a new yearly high, suggesting substantial market participation. For future sessions, traders can monitor whether strong volume accompanies moves above the ₹1,855 area. PAYTM's chart is currently characterized by strong momentum and a fresh 52-week-high breakout. The key technical level to monitor is the area around ₹1,800–₹1,855. Holding above the breakout zone would keep the bullish structure technically stronger, while a sharp rejection followed by a move back below the breakout area would require caution. This is technical analysis, not a buy/sell recommendation. A 52-week high by itself does not guarantee further gains, so position sizing and risk management remain important.
See More


