Round Bottom Breakout in HIKAL Ltd – A Technical Analysis Perspe
Key Highlights of the Chart:
Pattern Overview:
The round bottom formation suggests a long consolidation phase where selling pressure gradually decreased, followed by increasing buying interest.
The breakout above the neckline (marked by the green resistance line) signals the start of a new bullish trend.
Targets Identified:
First Target: ₹604
Second Target: ₹737
These targets are based on technical projections, aligning with resistance levels and Fibonacci retracements.
Current Price:
HIKAL Ltd is trading at ₹411.80 with a strong breakout momentum (+5.31% as of now).
Volume and Confirmation:
The breakout is backed by significant trading volume, further confirming the bullish trend.
Pattern Overview:
The round bottom formation suggests a long consolidation phase where selling pressure gradually decreased, followed by increasing buying interest.
The breakout above the neckline (marked by the green resistance line) signals the start of a new bullish trend.
Targets Identified:
First Target: ₹604
Second Target: ₹737
These targets are based on technical projections, aligning with resistance levels and Fibonacci retracements.
Current Price:
HIKAL Ltd is trading at ₹411.80 with a strong breakout momentum (+5.31% as of now).
Volume and Confirmation:
The breakout is backed by significant trading volume, further confirming the bullish trend.
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