This week's spotlight is on 
HATHWAY , where a decisive Symmetrical Triangle breakout backed by a volume spike suggests the possibility of a sustained bullish move.
Adding to the positive outlook, the sectoral index,
CNXMEDIA , has also broken out of a Cup & Handle pattern supporting our top-down approach and gained 6.69% over the past week, demonstrating sector-wide strength despite a weak broader market.
The Weekly RSI (14) at 47.85 has indicated a range-shift from the 40 zone, signaling a potential bottom formation, while the Daily RSI (14) has held above 50, reinforcing the breakout. The stock has also moved above its 20-EMA and 50-EMA on the daily timeframe, both of which are turning higher.
Having already retested the breakout level successfully,HATHWAY looks well-positioned for further upside. A sustained move above ₹10.50 could drive the stock toward ₹11.89, while a breakout above the strong resistance of ₹12.05 may open the path further toward the pattern target of ₹14.13.
Stop-loss (Closing Basis): ₹10.30
Support Levels: ₹10.88, ₹10.67, ₹10.45
Targets: ₹11.89, ₹12.05, ₹14.13
Disclaimer:
Investments in the securities market are subject to market risks, read all related documents carefully before investing. Securities quoted here are exemplary, not recommendatory. I am not a SEBI registered financial advisor, please consult your financial advisor before investing. Please note that I do not guarantee any assured returns for the securities quoted here.
Stay updated with my latest trading ideas and market analysis by following me on TradingView.
Hari Narayan N
Chartered Market Technician (CMT – All 3 Levels Cleared)
HATHWAY , where a decisive Symmetrical Triangle breakout backed by a volume spike suggests the possibility of a sustained bullish move.Adding to the positive outlook, the sectoral index,
CNXMEDIA , has also broken out of a Cup & Handle pattern supporting our top-down approach and gained 6.69% over the past week, demonstrating sector-wide strength despite a weak broader market.The Weekly RSI (14) at 47.85 has indicated a range-shift from the 40 zone, signaling a potential bottom formation, while the Daily RSI (14) has held above 50, reinforcing the breakout. The stock has also moved above its 20-EMA and 50-EMA on the daily timeframe, both of which are turning higher.
Having already retested the breakout level successfully,
HATHWAY looks well-positioned for further upside. A sustained move above ₹10.50 could drive the stock toward ₹11.89, while a breakout above the strong resistance of ₹12.05 may open the path further toward the pattern target of ₹14.13.Stop-loss (Closing Basis): ₹10.30
Support Levels: ₹10.88, ₹10.67, ₹10.45
Targets: ₹11.89, ₹12.05, ₹14.13
Disclaimer:
Investments in the securities market are subject to market risks, read all related documents carefully before investing. Securities quoted here are exemplary, not recommendatory. I am not a SEBI registered financial advisor, please consult your financial advisor before investing. Please note that I do not guarantee any assured returns for the securities quoted here.
Stay updated with my latest trading ideas and market analysis by following me on TradingView.
Hari Narayan N
Chartered Market Technician (CMT – All 3 Levels Cleared)
Note
1st target of 11.89 achieved.Note
2nd target of 12.05 achieved.
Chartered Market Technician (All 03 levels cleared)
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.
Chartered Market Technician (All 03 levels cleared)
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.