📊 Finolex Cables Ltd – Range Breakout with Bullish Momentum
The stock is showing a steady recovery after consolidation and is now attempting a breakout with improving price structure.
🔎 Technical Observations:
• Consolidation after previous move
• Formation of higher lows indicating accumulation
• Gradual upside breakout from range
• Price holding above key support levels
• Momentum indicators trending positive
🔑 Key Levels to Watch:
• Immediate Support: ₹940 – ₹920
• Major Support: ₹880 – ₹850
• Immediate Resistance: ₹1,000 – ₹1,020
🚀 Upside Targets:
• ₹1,100
• ₹1,200
• ₹1,300+
📉 Risk Scenario:
Breakdown below ₹920 may weaken the structure and lead to downside towards ₹880
📈 Trading View:
👉 Stock is showing breakout attempt after consolidation
👉 Dips can be buying opportunities near support zones
👉 Sustained move above ₹1,020 can trigger strong bullish momentum
⚠️ For educational purposes only. Not a buy/sell recommendation.
— AALGO BREATHS 📊