### **Technical Analysis of Walchandnagar Industries Ltd. (NSE: WALCHANNAG)**
The chart highlights a **cup and handle** pattern, signaling a potential bullish breakout.
### **Key Observations:**
- **Cup Formation:** Extended consolidation phase, indicating accumulation.
- **Handle Formation:** A brief pullback before the breakout, confirming renewed buying interest.
- **Breakout Confirmation:** Price surged above **₹229.00**, now trading at **₹235.32** (+8.30%).
- **Target Price:** **₹315.80**, based on pattern depth, suggesting a **34.2% upside.
### **Indicators to Watch:**
- **Volume:** Significant spike at breakout, confirming strength.
- **RSI:** Above **60**, signals strong momentum.
- **MACD:** Bullish crossover strengthens trend continuation.
- **Support:** **₹229.00** (former resistance turned support).
The chart highlights a **cup and handle** pattern, signaling a potential bullish breakout.
### **Key Observations:**
- **Cup Formation:** Extended consolidation phase, indicating accumulation.
- **Handle Formation:** A brief pullback before the breakout, confirming renewed buying interest.
- **Breakout Confirmation:** Price surged above **₹229.00**, now trading at **₹235.32** (+8.30%).
- **Target Price:** **₹315.80**, based on pattern depth, suggesting a **34.2% upside.
### **Indicators to Watch:**
- **Volume:** Significant spike at breakout, confirming strength.
- **RSI:** Above **60**, signals strong momentum.
- **MACD:** Bullish crossover strengthens trend continuation.
- **Support:** **₹229.00** (former resistance turned support).
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.