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.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.