Hindustan Motors- Ambassador is BACK!!

📊 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