4030 Technical Analysis: Bullish Setup in Play4030 (National Shipping Co. of Saudi Arabia) has broken above a key weekly support/resistance level with healthy volumes, signaling strong buying interest. The breakout came through the last lower high, which was also the neckline of a double bottom formation — confirming a structural shift from bearish to bullish. RSI is synced with the move, supporting momentum.
The first buy is taken at CMP, while Buy 2 is positioned lower in case price forms a new higher low to secure a better average entry. Profit targets are mapped through the double bottom projection and subsequent resistance zones.
Recommended Levels:
Buy 1: 23.10 (CMP)
Buy 2: 22.20
Stop Loss: Closing below 21.20
Take Profit 1: 24.20
Take Profit 2: 24.90
Take Profit 3: 25.80
Happy trading!
