MOTOLAL OSWAL1. Trend Analysis
The stock is in a clear uptrend, making higher highs and higher lows since mid-2023.
Momentum remains positive, with price trading above most key moving averages, indicating sustained bullish sentiment.
2. Support and Resistance Levels
Immediate Support Zones:
₹954.68: Close support from recent consolidation.
₹903.25: A stronger demand zone, as it aligns with prior breakout levels.
Major Resistance Levels:
The stock is currently trading near ₹1,012.50, which appears to be a potential resistance. Breaking above this could signal continuation of the uptrend.
Deeper Support Levels:
₹820.50 and ₹693.93: These zones could act as strong support during significant corrections.
3. Moving Averages
The stock is trading above short-, medium-, and long-term moving averages, which confirms the ongoing bullish sentiment.
The short-term EMA (20-day) is providing immediate support, reflecting strong near-term momentum.
4. Pattern Observations
A cup-and-handle pattern is visible between mid-2023 and late-2024. This is a bullish continuation pattern and suggests potential upside if the stock breaks above the handle resistance.
The breakout level for the handle seems to be around ₹1,012.50. A strong close above this point may initiate the next leg of the uptrend.
5. MACD Indicator
Current Status:
The MACD Line (25.64) is above the Signal Line (18.78), indicating strong bullish momentum.
Histogram: Positive and widening, which further supports the continuation of the uptrend.
6. Volume Analysis
There is evidence of higher volume spikes during rallies, indicating institutional buying.
Recent volumes appear lower during the consolidation phase, which is typical in an uptrend and signals no major selling pressure.
7. Key Levels to Watch
Upside Potential:
If the stock breaks above ₹1,012.50 with volume, it could head toward higher resistance zones.
Downside Risk:
A failure to hold ₹954.68 might lead to a pullback toward ₹903.25 or deeper toward ₹820.50.
8. Summary
Bullish Bias: The overall trend is positive, supported by strong technicals and patterns. Watch for a breakout above ₹1,012.50 for confirmation of the next leg upward.
Key Levels to Monitor:
Support: ₹954.68 and ₹903.25.
Resistance: ₹1,012.50.
