📊 Summary:
After breaking out of a falling wedge, Hindustan Motors is currently in a consolidation phase near resistance zones. A range breakout above ₹35 with volume could open the doors for a bigger rally, while ₹27 acts as immediate support.
🔍 Technical Breakdown:
Pattern: Falling Wedge breakout followed by sideways consolidation.
Current Price: ₹30.68
Resistance Zone: ₹35–₹36 (upper horizontal red line)
Immediate Support: ₹27.00 (lower range bound)
Key Demand Zones (Long-Term):
₹23.59
₹20.76
₹18.84
Volume: Strong rise in volume during breakout, now cooling off.
RSI (14): 56.53 – mildly bullish and trending above RSI-based MA.
✅ Suggestions:
Buy Trigger: Weekly close above ₹35–36 range with high volume.
Stoploss: ₹26.80 (below range support)
Short-Term Targets (Post Breakout):
₹42
₹48.60 (previous swing high)
Accumulation Strategy: Buy near ₹27–28 zone if it pulls back.
RSI Trend: Holding above 50 suggests ongoing bullish momentum.
⚠️ Caution:
Price needs to decisively break the current sideways box range.
Volume must pick up again for a sustained breakout.
Avoid fresh entry if it breaks below ₹26.80 – may revisit ₹23–20 levels.
📌 Conclusion:
Hindustan Motors has staged a technical comeback and is now consolidating after a strong move. ₹35 breakout is key for further upside. Accumulate on dips, and watch for volume confirmation before breakout entry
After breaking out of a falling wedge, Hindustan Motors is currently in a consolidation phase near resistance zones. A range breakout above ₹35 with volume could open the doors for a bigger rally, while ₹27 acts as immediate support.
🔍 Technical Breakdown:
Pattern: Falling Wedge breakout followed by sideways consolidation.
Current Price: ₹30.68
Resistance Zone: ₹35–₹36 (upper horizontal red line)
Immediate Support: ₹27.00 (lower range bound)
Key Demand Zones (Long-Term):
₹23.59
₹20.76
₹18.84
Volume: Strong rise in volume during breakout, now cooling off.
RSI (14): 56.53 – mildly bullish and trending above RSI-based MA.
✅ Suggestions:
Buy Trigger: Weekly close above ₹35–36 range with high volume.
Stoploss: ₹26.80 (below range support)
Short-Term Targets (Post Breakout):
₹42
₹48.60 (previous swing high)
Accumulation Strategy: Buy near ₹27–28 zone if it pulls back.
RSI Trend: Holding above 50 suggests ongoing bullish momentum.
⚠️ Caution:
Price needs to decisively break the current sideways box range.
Volume must pick up again for a sustained breakout.
Avoid fresh entry if it breaks below ₹26.80 – may revisit ₹23–20 levels.
📌 Conclusion:
Hindustan Motors has staged a technical comeback and is now consolidating after a strong move. ₹35 breakout is key for further upside. Accumulate on dips, and watch for volume confirmation before breakout entry
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
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.