In the **weekly time frame**, a **symmetrical triangle pattern** that formed since September 2021 had a successful breakout in August 2024. However, shortly after the breakout, the stock price declined due to the lack of support from the **NIFTY index movement**.
Looking at the chart, it’s clear that the **₹1550 price range** acts as a strong **demand zone**, and the **trendline support** (TL) is also nearby. Buying in this range would have a very minimal **stop-loss risk**. There’s a good chance the price could reach its **previous all-time high (ATH)** again.
Looking at the chart, it’s clear that the **₹1550 price range** acts as a strong **demand zone**, and the **trendline support** (TL) is also nearby. Buying in this range would have a very minimal **stop-loss risk**. There’s a good chance the price could reach its **previous all-time high (ATH)** again.
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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.