🔍 Current Price Structure:
CMP ₹637.65, showing a strong uptrend over the past few weeks.
The stock has rallied sharply from around ₹430–₹440 levels since early May, forming a parabolic move.
Currently testing the previous swing high zone (~₹640–₹660) from January 2025.
⚙️ Technical Outlook:
Strong momentum with minimal pullbacks in recent candles.
Volume confirmation is key – if volumes sustain or increase, the uptrend may extend.
Some resistance expected near ₹660–₹680 (previous rejection zone).
Short-term consolidation likely before another leg up.
✅ Positional Trade Plan
Parameter Level
🎯 Entry ₹630–₹640 (partial) or on dip
🛑 Stop Loss ₹580 (below recent swing low)
📈 Target 1 ₹700
📈 Target 2 ₹760+
⏳ Timeframe 3–5 weeks
🧠 Setup Rationale:
Price has broken out of base and retraced to retest earlier highs.
If sustained above ₹640 with strength, momentum can take it towards ₹700+.
Tight SL advised due to sharp prior rally and risk of profit booking.
CMP ₹637.65, showing a strong uptrend over the past few weeks.
The stock has rallied sharply from around ₹430–₹440 levels since early May, forming a parabolic move.
Currently testing the previous swing high zone (~₹640–₹660) from January 2025.
⚙️ Technical Outlook:
Strong momentum with minimal pullbacks in recent candles.
Volume confirmation is key – if volumes sustain or increase, the uptrend may extend.
Some resistance expected near ₹660–₹680 (previous rejection zone).
Short-term consolidation likely before another leg up.
✅ Positional Trade Plan
Parameter Level
🎯 Entry ₹630–₹640 (partial) or on dip
🛑 Stop Loss ₹580 (below recent swing low)
📈 Target 1 ₹700
📈 Target 2 ₹760+
⏳ Timeframe 3–5 weeks
🧠 Setup Rationale:
Price has broken out of base and retraced to retest earlier highs.
If sustained above ₹640 with strength, momentum can take it towards ₹700+.
Tight SL advised due to sharp prior rally and risk of profit booking.
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.