Chart: Daily timeframe
Technical View
listing, the stock went through a long consolidation phase, forming a base.
Recently, price broke out above ₹530 resistance with strong volume, confirming institutional participation.
The breakout has been followed by healthy price action — higher highs & higher lows.
Volume during the breakout was significantly higher compared to the consolidation period, which adds conviction.
After breakout it is in consolidation zone.
Entry Zone: Around ₹560–580 (current breakout retest zone).
Long term target can be ₹700-800.
Stop loss is just below breakout line. Good risk reward ration stock.
This looks like a classic post-IPO consolidation breakout with volume confirmation. If retest holds, it offers a solid swing entry with favorable risk/reward.
Disclaimer:
This analysis is shared for educational and informational purposes only. It should not be considered financial advice or a recommendation to buy/sell any security. Trading and investing involve risks, and you should do your own research or consult with a qualified financial advisor before making decisions. Past performance does not guarantee future results.
Technical View
listing, the stock went through a long consolidation phase, forming a base.
Recently, price broke out above ₹530 resistance with strong volume, confirming institutional participation.
The breakout has been followed by healthy price action — higher highs & higher lows.
Volume during the breakout was significantly higher compared to the consolidation period, which adds conviction.
After breakout it is in consolidation zone.
Entry Zone: Around ₹560–580 (current breakout retest zone).
Long term target can be ₹700-800.
Stop loss is just below breakout line. Good risk reward ration stock.
This looks like a classic post-IPO consolidation breakout with volume confirmation. If retest holds, it offers a solid swing entry with favorable risk/reward.
Disclaimer:
This analysis is shared for educational and informational purposes only. It should not be considered financial advice or a recommendation to buy/sell any security. Trading and investing involve risks, and you should do your own research or consult with a qualified financial advisor before making decisions. Past performance does not guarantee future results.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.