Trent preparing for his super performance in upcoming contract

One of my favourite bullish patterns - Hidden Bullish Divergence 📈

I am studying Trent for August Futures series if it holds the support for this whole week

Final stoploss would be - 5100 WCLB

Price Movement: Trent Ltd. has shown a positive movement with the stock closing at 5,263.80, up by 53.60 (+1.03%) from its previous close. The stock reached a high of 5,310.25 and a low of 4,955.65 during the day.

Volume: The volume for the day was 763.626K, with an average volume of 598.147K, indicating higher trading activity compared to the average.

Moving Averages:
20-day EMA: 5,391.74
50-day EMA: 5,111.77

The stock is trading below its 20-day EMA but above its 50-day EMA. This suggests that while there has been a recent dip, the longer-term trend remains positive.

Support and Resistance Levels:

Immediate Support: 5,112.29 (close to the 50-day EMA)
Immediate Resistance: 5,391.78 (close to the 20-day EMA)

Chart Patterns: The stock has shown a consistent uptrend over the past few months, with occasional corrections. The recent pullback towards the 50-day EMA could be a healthy correction, providing a potential buying opportunity if the stock bounces back from the support level.

Summary

Current Trend: Uptrend with recent correction.
Key Levels: Watch for a bounce back from the 50-day EMA around 5,112.29, and resistance around the 20-day EMA at 5,391.78.
Indicators to Monitor: RSI and MACD for buy/sell signals.

Disclaimer: This analysis is not financial advice and is provided for educational purposes only. Please consult with a financial advisor before making any investment decisions.