NSDL Breakout from Symmetrical Triangle – Possible Upside Move
The chart shows the stock price of National Securities Depository Limited (NSDL) listed on BSE. A symmetrical triangle pattern has formed over the past few sessions, with converging trendlines indicating consolidation. Today, the stock has broken above the upper trendline on higher volume, signaling a potential bullish breakout.
Key Observations:
Price has moved above the resistance trendline of the symmetrical triangle.
Volume is increasing, which confirms buying interest.
RSI is above 70, indicating strong momentum, though it may also suggest overbought conditions.
The next resistance level is near ₹1,425.
This breakout suggests a bullish move in the near term, but traders should monitor for confirmation and manage risk.
ANALYSIS BY MAYUR JAYANT TAKALIKAR -- FOR LEARNING & OBSERVATIONAL USE ONLY.
⚠ Disclaimer:
I am not SEBI registered and this is not financial advice. This is purely an educational analysis based on chart patterns. Please consult a qualified financial advisor before making any investment decisions.
Key Observations:
Price has moved above the resistance trendline of the symmetrical triangle.
Volume is increasing, which confirms buying interest.
RSI is above 70, indicating strong momentum, though it may also suggest overbought conditions.
The next resistance level is near ₹1,425.
This breakout suggests a bullish move in the near term, but traders should monitor for confirmation and manage risk.
ANALYSIS BY MAYUR JAYANT TAKALIKAR -- FOR LEARNING & OBSERVATIONAL USE ONLY.
⚠ Disclaimer:
I am not SEBI registered and this is not financial advice. This is purely an educational analysis based on chart patterns. Please consult a qualified financial advisor before making any investment decisions.
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.