💡 Description:
E.I.D. Parry (NSE: EIDPARRY) is currently in a critical consolidation phase after breaking out from a medium-term descending channel.
Price has retested the breakout successfully near ₹1,013–₹1,025, which aligns with the major support zone. The stock now trades around ₹1,035, hovering just below a key resistance cluster near ₹1,062–₹1,075.
🔹 Technical Structure:
Pattern: Rounded top → Descending channel → Breakout + Retest
Trend: Sideways-to-accumulation after a corrective phase
Support Zone: ₹1,013–₹1,025
Resistance Zone: ₹1,062–₹1,075
Next Major Resistance: ₹1,120 / ₹1,247
Major Support: ₹1,000 / ₹929
📊 Indicator Snapshot:
RSI (14): ~46 → Neutral zone, slightly recovering
MACD (12,26,9): Flat near crossover → Awaiting direction confirmation
ADX (14): 14.8 → Low trend strength, indicating a potential buildup phase
Volume: Muted → Suggests market is waiting for breakout confirmation
📈 Bullish View:
If the stock closes above ₹1,075 with strong volume, it would confirm a valid breakout continuation.
Entry (confirmation): Above ₹1,075 (daily close)
Targets: ₹1,120 / ₹1,247
Stop Loss: ₹1,010 (below retest zone)
R:R: ~1:2
Aggressive swing entry: Accumulate near ₹1,020–₹1,025 with a stop below ₹995, targeting ₹1,120.
📉 Bearish View (if invalidated):
If price breaks below ₹1,000 on volume, it invalidates the breakout and may resume the prior downtrend.
Trigger: Close below ₹1,000
Targets: ₹929 / ₹850
Stop Loss: ₹1,050
🔍 Analyst Commentary:
E.I.D. Parry has likely completed a medium-term correction and entered a base-building phase near ₹1,013–₹1,025.
Momentum remains neutral, but a clean breakout above ₹1,075 with rising ADX and volume could confirm a trend reversal toward ₹1,120–₹1,247.
Failure to hold ₹1,000, however, will tilt the structure back to bearish continuation.
⚠️ Trade Summary:
Bias Zone Trigger Target Stop
Bullish (confirmation) ₹1,062–₹1,075 Breakout close ₹1,120 → ₹1,247 ₹1,010
Aggressive long ₹1,020–₹1,025 Support retest ₹1,120 ₹995
Bearish (invalidated) < ₹1,000 Breakdown ₹929 → ₹850 ₹1,050
📌 Note:
Wait for confirmation candles and volume expansion before taking any new positions. Current ADX and MACD readings show low momentum, so an early entry without breakout confirmation may lead to sideways traps.
#EIDPARRY #NSE #Breakout #TechnicalAnalysis #SwingTrade #ADX #RSI #MACD #PriceAction
E.I.D. Parry (NSE: EIDPARRY) is currently in a critical consolidation phase after breaking out from a medium-term descending channel.
Price has retested the breakout successfully near ₹1,013–₹1,025, which aligns with the major support zone. The stock now trades around ₹1,035, hovering just below a key resistance cluster near ₹1,062–₹1,075.
🔹 Technical Structure:
Pattern: Rounded top → Descending channel → Breakout + Retest
Trend: Sideways-to-accumulation after a corrective phase
Support Zone: ₹1,013–₹1,025
Resistance Zone: ₹1,062–₹1,075
Next Major Resistance: ₹1,120 / ₹1,247
Major Support: ₹1,000 / ₹929
📊 Indicator Snapshot:
RSI (14): ~46 → Neutral zone, slightly recovering
MACD (12,26,9): Flat near crossover → Awaiting direction confirmation
ADX (14): 14.8 → Low trend strength, indicating a potential buildup phase
Volume: Muted → Suggests market is waiting for breakout confirmation
📈 Bullish View:
If the stock closes above ₹1,075 with strong volume, it would confirm a valid breakout continuation.
Entry (confirmation): Above ₹1,075 (daily close)
Targets: ₹1,120 / ₹1,247
Stop Loss: ₹1,010 (below retest zone)
R:R: ~1:2
Aggressive swing entry: Accumulate near ₹1,020–₹1,025 with a stop below ₹995, targeting ₹1,120.
📉 Bearish View (if invalidated):
If price breaks below ₹1,000 on volume, it invalidates the breakout and may resume the prior downtrend.
Trigger: Close below ₹1,000
Targets: ₹929 / ₹850
Stop Loss: ₹1,050
🔍 Analyst Commentary:
E.I.D. Parry has likely completed a medium-term correction and entered a base-building phase near ₹1,013–₹1,025.
Momentum remains neutral, but a clean breakout above ₹1,075 with rising ADX and volume could confirm a trend reversal toward ₹1,120–₹1,247.
Failure to hold ₹1,000, however, will tilt the structure back to bearish continuation.
⚠️ Trade Summary:
Bias Zone Trigger Target Stop
Bullish (confirmation) ₹1,062–₹1,075 Breakout close ₹1,120 → ₹1,247 ₹1,010
Aggressive long ₹1,020–₹1,025 Support retest ₹1,120 ₹995
Bearish (invalidated) < ₹1,000 Breakdown ₹929 → ₹850 ₹1,050
📌 Note:
Wait for confirmation candles and volume expansion before taking any new positions. Current ADX and MACD readings show low momentum, so an early entry without breakout confirmation may lead to sideways traps.
#EIDPARRY #NSE #Breakout #TechnicalAnalysis #SwingTrade #ADX #RSI #MACD #PriceAction
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.