📊 Market Overview
Current Price: ₹1.30 (+8.33%)
Analysis Period: Daily candlestick chart as of today
🎯 Key Technical Analysis
💫 Price Action Dynamics
- Trend: Range-bound trading in the last 6 months between ₹1.10 and ₹1.50.
- Support Levels: ₹1.10 and ₹1.20.
- Resistance Levels: ₹1.50 and ₹1.70.
- Recent price bounced off ₹1.20, showing short-term bullish momentum.
- No strong bullish or bearish candlestick pattern detected for a breakout.
📈 Technical Indicators Breakdown
RSI (Relative Strength Index): The RSI is at 51.06 (neutral territory), oscillating between 40 and 60, indicating sideways momentum. No overbought (>70) or oversold (<30) signals observed.
DMI (Directional Movement Index):
- DI+: 15.84
- DI-: 23.75
- ADX: 26.38
- The DI- is slightly dominant over DI+, indicating mild bearish strength, while the ADX suggests some trend strength, though not decisively bullish or bearish.
📊 Volume Analysis
- Volume is relatively low, signifying weak market participation.
- Occasional spikes in volume indicate short-term interest but lack consistent momentum.
- Recent rally (Jan 2025) has not been supported by significant volume expansion, potentially limiting upside potential.
💪 Technical Strength Assessment
| Metric | Score |
|---|---|
| Trend Strength | 5/10 |
| RSI Signal | 6/10 |
| DMI Signal | 4/10 |
| Volume Support | 3/10 |
| Support & Resistance Strength | 7/10 |
Overall Technical Score: 5/10
⚠️ Risk Analysis
- Failure to sustain above ₹1.20 support could lead to price retesting ₹1.10.
- Weak volume on bullish moves may fail to sustain a breakout above ₹1.50.
- Mixed indicators (RSI, DMI) currently provide no strong trends.
Disclaimer
This analysis is for informational purposes only and should not be considered financial advice. Always perform your own research before making investment decisions.
- Technical analysis includes inherent limitations and is not always predictive of future price action.
- The analysis reflects the market conditions as of today and is subject to change.