From February to late May 2025, the stock of GARUDA was trading in a sideways consolidation range, roughly between ₹100 (support) and ₹115-₹120 (resistance). The recent powerful green candles have shattered the upper boundary of this range. Also, the most significant event on the daily chart is the decisive breakout from a descending trendline that had capped prices. Also, LL and HH formation observed on daily chart.
The breakout was accompanied by a significant spike in volume (862.88K shares), which is substantially higher than the average volume during the consolidation period. High volume on a breakout lends strong credibility to the move.
The RSI is at a strong 69.20. It is in bullish territory and rising, indicating strong buying momentum. It is approaching the overbought region (>70), but is not there yet, leaving room for further upside before becoming extended.
If the stock consolidates above the ₹120-₹121 support level. Buyers step in on any minor dip till ₹118, and the price then continues its upward trajectory towards the resistance targets of ₹129 and subsequently ₹149.
Disclaimer: This technical analysis is for informational purposes only and should not be considered as financial advice. Trading in the stock market involves risk. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
The breakout was accompanied by a significant spike in volume (862.88K shares), which is substantially higher than the average volume during the consolidation period. High volume on a breakout lends strong credibility to the move.
The RSI is at a strong 69.20. It is in bullish territory and rising, indicating strong buying momentum. It is approaching the overbought region (>70), but is not there yet, leaving room for further upside before becoming extended.
If the stock consolidates above the ₹120-₹121 support level. Buyers step in on any minor dip till ₹118, and the price then continues its upward trajectory towards the resistance targets of ₹129 and subsequently ₹149.
Disclaimer: This technical analysis is for informational purposes only and should not be considered as financial advice. Trading in the stock market involves risk. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
交易結束：目標達成
Reached to Resistance, Trade Close
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