Looks Good! for NSE:NIACL by hardeepssethi — TradingView India

(New India Assurance Company Ltd)

The recent price movement indicates a breakout from a consolidation phase, signaling the potential continuation of the previous uptrend.

This pattern aligns with the characteristics of a Symmetrical Continuation Triangle (Bullish), where two trendlines converge due to the price making lower highs and higher lows.

During this period, trading volume typically decreases as the price oscillates within a narrowing range, reflecting uncertainty.

However, before the triangle’s apex is reached, a breakout above the upper trendline occurs, accompanied by a significant increase in volume.

This breakout serves as a confirmation of the continuation of the prior uptrend.

PLEASE NOTE THAT:

• This chart analysis is only for reference purpose.
  
• This is not buying or selling recommendations.
  
• I am not SEBI registered.
  
• Please consult your financial advisor before taking any trade