Oberoi Reality Analysis
1. Trend:
• The stock is in an uptrend within a defined channel.
• It is currently near the upper resistance of this channel.
2. Support and Resistance Levels:
• Resistance levels are visible around ₹2,343 and ₹2,315.
• Support levels are approximately at ₹2,236, ₹2,083, and ₹1,970.
3. Moving Averages:
• The stock price is trading well above the 50-day (yellow), 100-day (green), and 200-day (red) moving averages, indicating bullish momentum.
4. Volume:
• The recent candles have slightly lower volumes, suggesting weaker buying momentum at the current levels.
5. RSI (Relative Strength Index):
• The RSI is near 70, which indicates the stock is in an overbought zone. This could signal a potential correction or consolidation in the near term.
Technical Outlook:
• Bullish Case:
• If the stock breaks above ₹2,343 with strong volume, it could continue its uptrend to new highs.
• Bearish Case:
• A failure to hold current levels might lead to a pullback toward support at ₹2,236 or ₹2,083.
Recommendation:
• Watch for a breakout or rejection at the ₹2,343 resistance.
• If holding the stock, consider trailing your stop-loss near ₹2,236.
• For fresh entry, wait for a correction near support levels or a breakout above resistance with volume confirmation
• The stock is in an uptrend within a defined channel.
• It is currently near the upper resistance of this channel.
2. Support and Resistance Levels:
• Resistance levels are visible around ₹2,343 and ₹2,315.
• Support levels are approximately at ₹2,236, ₹2,083, and ₹1,970.
3. Moving Averages:
• The stock price is trading well above the 50-day (yellow), 100-day (green), and 200-day (red) moving averages, indicating bullish momentum.
4. Volume:
• The recent candles have slightly lower volumes, suggesting weaker buying momentum at the current levels.
5. RSI (Relative Strength Index):
• The RSI is near 70, which indicates the stock is in an overbought zone. This could signal a potential correction or consolidation in the near term.
Technical Outlook:
• Bullish Case:
• If the stock breaks above ₹2,343 with strong volume, it could continue its uptrend to new highs.
• Bearish Case:
• A failure to hold current levels might lead to a pullback toward support at ₹2,236 or ₹2,083.
Recommendation:
• Watch for a breakout or rejection at the ₹2,343 resistance.
• If holding the stock, consider trailing your stop-loss near ₹2,236.
• For fresh entry, wait for a correction near support levels or a breakout above resistance with volume confirmation
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