Piramal Pharma (1 Hour Chart) - Technical Analysis
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Chart Overview:
Descending Triangle Pattern: The stock is forming a descending triangle, which is a bearish pattern but can break in either direction. The price is compressing between resistance at the downward-sloping trendline and support at around ₹222.
Resistance Zone: Around ₹230.
Support Zone: The stock has strong support near ₹222, as indicated by multiple rejections from that level.
Volume:
The volume is relatively low but steady, suggesting that a breakout could be imminent. A rise in volume could validate the move in either direction.
Potential Scenarios:
Bullish Breakout: A close above the ₹230 resistance could trigger a move towards the ₹240-₹245 zone.
Bearish Breakdown: A close below ₹222 could lead to a deeper correction, with support at ₹215 or lower.
Disclaimer: This analysis is for educational purposes and not financial advice.
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Chart Overview:
Descending Triangle Pattern: The stock is forming a descending triangle, which is a bearish pattern but can break in either direction. The price is compressing between resistance at the downward-sloping trendline and support at around ₹222.
Resistance Zone: Around ₹230.
Support Zone: The stock has strong support near ₹222, as indicated by multiple rejections from that level.
Volume:
The volume is relatively low but steady, suggesting that a breakout could be imminent. A rise in volume could validate the move in either direction.
Potential Scenarios:
Bullish Breakout: A close above the ₹230 resistance could trigger a move towards the ₹240-₹245 zone.
Bearish Breakdown: A close below ₹222 could lead to a deeper correction, with support at ₹215 or lower.
Disclaimer: This analysis is for educational purposes and not financial advice.
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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.