The price has recently touched and bounced off a long-term ascending trendline that has acted as strong support since 2021. This bounce could indicate a potential reversal or at least a temporary bottom current candle is bullish with a long lower wick, suggesting buying pressure at lower levels, which is typically a good sign for reversal.
Assuming the support holds and momentum continues, here are the potential upside targets based on historical price action and resistance levels:
First Target: ₹165 – Previous minor resistance zone.
Second Target: ₹195 – Stronger resistance seen multiple times in 2024.
Third Target: ₹225 – Last significant swing high.
Long-term Potential: ₹265+
If the trend continues and momentum builds.Conservative Stop Loss: ₹110 – Below the recent swing low.
Aggressive Stop Loss: ₹99 – Just below the trendline breakdown (to allow for volatility).
Invalidation: Sustained close below ₹110–99 zone.
Assuming the support holds and momentum continues, here are the potential upside targets based on historical price action and resistance levels:
First Target: ₹165 – Previous minor resistance zone.
Second Target: ₹195 – Stronger resistance seen multiple times in 2024.
Third Target: ₹225 – Last significant swing high.
Long-term Potential: ₹265+
If the trend continues and momentum builds.Conservative Stop Loss: ₹110 – Below the recent swing low.
Aggressive Stop Loss: ₹99 – Just below the trendline breakdown (to allow for volatility).
Invalidation: Sustained close below ₹110–99 zone.
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