SYNGENE
📉 **Possible Reversal for SYNGENE?**
The **SYNGENE International Ltd (NSE) daily chart** suggests a potential **bullish reversal** or **continued bearish trend**, depending on key price action around the support level. Here are the key insights:
🔹 **Support Zone:** The stock is holding near **660 - 668 INR**, a historically significant level.
🔹 **Bounce or Breakdown?** A clear break below this zone could lead to further downside toward **640 - 620 INR**, while a bounce may push it higher.
🔹 **Moving Average Factor:** The price is still below the **50-day moving average**, indicating a downtrend, but a reversal could occur if it reclaims this level.
🔹 **Risk-Reward Setup:** A long trade from **660 INR** targeting **700 INR** offers a decent risk-to-reward ratio, while a breakdown trade could target **640 INR**.
💡 **Bullish Scenario:** If support holds, SYNGENE could bounce back toward **700 - 720 INR** in the coming sessions.
⚠️ **Bearish Risk:** A breakdown below **660 INR** may lead to further declines, continuing the downtrend.
📊 **Overall Sentiment: Watch for Reversal or Breakdown ⚖️**
The **SYNGENE International Ltd (NSE) daily chart** suggests a potential **bullish reversal** or **continued bearish trend**, depending on key price action around the support level. Here are the key insights:
🔹 **Support Zone:** The stock is holding near **660 - 668 INR**, a historically significant level.
🔹 **Bounce or Breakdown?** A clear break below this zone could lead to further downside toward **640 - 620 INR**, while a bounce may push it higher.
🔹 **Moving Average Factor:** The price is still below the **50-day moving average**, indicating a downtrend, but a reversal could occur if it reclaims this level.
🔹 **Risk-Reward Setup:** A long trade from **660 INR** targeting **700 INR** offers a decent risk-to-reward ratio, while a breakdown trade could target **640 INR**.
💡 **Bullish Scenario:** If support holds, SYNGENE could bounce back toward **700 - 720 INR** in the coming sessions.
⚠️ **Bearish Risk:** A breakdown below **660 INR** may lead to further declines, continuing the downtrend.
📊 **Overall Sentiment: Watch for Reversal or Breakdown ⚖️**
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.