Poonawalla Fincorp has shown a significant bullish development, decisively breaking out of a Triangle continuation pattern today. This breakout was marked by a substantial 12.30% surge in price, backed by exceptionally high trading volume.
This move signals a potential continuation of the bullish run that began in March 2025, which itself was a reversal of a downtrend initiated by a Double-Top bearish pattern in April 2024.
Bullish Confirmation Signals 👍
The positive outlook is supported by several key indicators:
- Breakout Volume: The price surge was accompanied by a massive spike in volume, indicating strong conviction and participation from buyers.
- Momentum: Short-term Exponential Moving Averages (EMAs) have formed a positive crossover, confirming the renewed bullish momentum in the immediate term.
Immediate Hurdle Ahead 🚧
Despite the strong breakout, the stock is now trading at a crucial long-term resistance level. Overcoming this barrier is essential for the upward trend to continue.
Future Outlook and Scenarios
- Bullish Case 📈: If the upward momentum is sustained and the stock successfully breaks through the current long-term resistance, it could clear the path to test its all-time high. An initial price target in this scenario would be the ₹539 level.
- Bearish Case 📉: Conversely, if the stock fails to breach this resistance, the momentum could fade, potentially leading to a price correction towards the ₹427 support level.
Watchout for the price-action in the next few sessions !!
This move signals a potential continuation of the bullish run that began in March 2025, which itself was a reversal of a downtrend initiated by a Double-Top bearish pattern in April 2024.
Bullish Confirmation Signals 👍
The positive outlook is supported by several key indicators:
- Breakout Volume: The price surge was accompanied by a massive spike in volume, indicating strong conviction and participation from buyers.
- Momentum: Short-term Exponential Moving Averages (EMAs) have formed a positive crossover, confirming the renewed bullish momentum in the immediate term.
Immediate Hurdle Ahead 🚧
Despite the strong breakout, the stock is now trading at a crucial long-term resistance level. Overcoming this barrier is essential for the upward trend to continue.
Future Outlook and Scenarios
- Bullish Case 📈: If the upward momentum is sustained and the stock successfully breaks through the current long-term resistance, it could clear the path to test its all-time high. An initial price target in this scenario would be the ₹539 level.
- Bearish Case 📉: Conversely, if the stock fails to breach this resistance, the momentum could fade, potentially leading to a price correction towards the ₹427 support level.
Watchout for the price-action in the next few sessions !!
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
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: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
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.