D

DATAPATTNS.NSE

Technical Analysis – Data Patterns (India) Ltd. (Weekly)

22 days ago

Data Patterns is forming an ascending triangle pattern on the weekly timeframe, characterized by a rising trendline support and a horizontal resistance zone near ₹3,300–₹3,450.

Price is currently testing the upper boundary of the pattern, indicating a potential resistance breakout attempt. A decisive weekly close above the resistance zone may confirm the breakout and lead to further upside momentum.

However, post-breakout, a short-term correction or pullback towards the breakout zone is possible as part of a healthy retest before continuation of the trend.

Resistance: ₹3,300–₹3,450

Trendline Support: ₹2,600–₹2,700

Major Support: ₹2,100

Outlook:

Structure remains constructive within the ascending triangle formation. Breakout confirmation above resistance will be key, while a temporary correction after breakout cannot be ruled out. Investors are advised to monitor weekly closing levels before taking decisions, in line with their risk profile and market conditions.

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Posted by

VITHULDAS

Moderator

22 days ago

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