Uno Minda: Increase in Volume, But Can Price Break Free?
Technical Analysis (Weekly Chart):
Volume Increase: Recent trading sessions have shown a notable rise in volume, indicating heightened investor interest.
Price Compression: Despite the increased volume, the stock's price has remained within a narrow range, suggesting consolidation.
Support Level: The stock has established a support level around ₹1,000, which has been tested multiple times in recent weeks.
Resistance Level: Resistance is observed near ₹1,105, a level the stock has approached but struggled to surpass.
Other resistance levels: 1135 | 1180 | 1254
Keep in mind:
Nifty remains in a correction phase. A deeper market correction could drag the stock price down (900-925), even if its current technicals suggest upward potential.
Disclaimer:
This analysis is intended for educational purposes and is not a recommendation to buy. It is important to learn how to recognize and understand patterns in stock movements.
Volume Increase: Recent trading sessions have shown a notable rise in volume, indicating heightened investor interest.
Price Compression: Despite the increased volume, the stock's price has remained within a narrow range, suggesting consolidation.
Support Level: The stock has established a support level around ₹1,000, which has been tested multiple times in recent weeks.
Resistance Level: Resistance is observed near ₹1,105, a level the stock has approached but struggled to surpass.
Other resistance levels: 1135 | 1180 | 1254
Keep in mind:
Nifty remains in a correction phase. A deeper market correction could drag the stock price down (900-925), even if its current technicals suggest upward potential.
Disclaimer:
This analysis is intended for educational purposes and is not a recommendation to buy. It is important to learn how to recognize and understand patterns in stock movements.
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