Cochin Shipyard Ltd – Falling Wedge Breakout Watch
The stock is showing signs of base formation after a prolonged correction and is currently attempting a breakout from a Falling Wedge structure, which often signals a potential bullish reversal.
🔎 Technical Observations:
Clear Falling Wedge pattern formed during the downtrend
Price bouncing from the strong demand/support zone around ₹1,380–₹1,420
Recent volume expansion indicating fresh buying interest
Momentum indicators turning positive from oversold levels
Price attempting to reclaim short-term resistance
🔑 Key Levels to Watch:
Immediate Resistance: ₹1,520 – ₹1,570
Breakout Confirmation: Above ₹1,570
Immediate Support: ₹1,420
Major Support: ₹1,380
🚀 Upside Targets (If Breakout Sustains):
₹1,680
₹1,800
₹1,980 – ₹2,040 zone
📉 Risk Scenario:
If the stock fails to hold ₹1,420, it may revisit the ₹1,380 support zone.
⚠️ For educational purposes only. Not a buy/sell recommendation.
— AALGO BREATHS 📈