IPCA Laboratories Ltd – Technical View
After a long consolidation, the stock has given a strong upside breakout from the Falling Wedge, supported by rising volumes. Price has now moved above the 20 & 50 DMA, indicating short-term strength. The move also confirms a higher-high formation, shifting the bias positive.
However, the stock is approaching a major supply zone / previous top, where some profit-booking cannot be ruled out.
🔹 Resistance: ₹1550–1600
🔹 Support: ₹1450 | Major: ₹1365
🔹 RSI: ~60–65, bullish but nearing overbought
🔹 Volume: Breakout volume visible
📈 Bias: Buy on dips while above ₹1450.
📉 Below ₹1365, structure may weaken.
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