Swing Trader

UNIMECH

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  • May 7, 2025 at 4:27 pm#10301

    Kavish
    Participant

    Short Term – Positional

    CMP: 896

    Buy on dips: Accumulate in the 830 – 840 range

    TGT 1: 1077

    TGT 2: 1155

    TGT 3: 1290

    Technical Analysis:

    * The stock is currently trading at 896, near a strong demand zone, as shown by the double bottom structure with marked support at 790.

    * It has respected this support zone twice recently, indicating strong buyer interest around this level.

    * The zone near 785 – 790 has acted as a strong support base multiple times ( February, March and April), indicating buyers are actively defending this level.

    * Price has formed a rounding bottom pattern in the past and is now retesting support again – holding this level is crucial for any bullish reversal.

    * The price is currently consolidating just below the 21 EMA and near the trendline resistance.

    * A downward resistance trendline from previous swing highs is intact, and a breakout above this line will be a strong bullish signal.

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