GARDENREACH STOCK OF THE VIEW

Garden Reach Shipbuilders & Engineers Ltd (NSE: GARDENREACH) on a 1-minute timeframe:

🔑 Key Levels: Resistance Levels:

2821 (0.5 Fibonacci Level): Immediate resistance.

2838 (0.618 Fib): Strong resistance; breakout above this may suggest bullish continuation.

2864 (0.786 Fib): Next major resistance.

2897: Horizontal resistance level near recent high.

Support Levels:

2800 (trendline + psychological round level): Short-term support.

2746 (0 Fibonacci Level): Strong support and recent low.

⚠️ Risk Levels: If price breaks below 2800, risk of further downside increases.

Stop-loss for long trades can be considered around 2746, depending on entry.

💹 Potential Support/Resistance Zones: Support: 2800, 2746

Resistance: 2821, 2838, 2864, 2897

📈 Momentum: Price is attempting to break out of a descending triangle pattern.

Currently testing the 0.5 Fibonacci retracement and trendline resistance.

Volume is slightly increasing near the breakout, which is a positive sign.

📍 Estimated Direction: Bullish bias if price sustains above 2821 and breaks trendline convincingly.

Bearish bias if price fails to hold above 2800 and breaks down below recent support.

🕒 Timeframe: 1-Minute Chart (Intraday): Ideal for short-term scalping or intraday decision-making.

Consider confirming direction on 5-minute or 15-minute charts for more conviction.

🔍 Technical Pattern: Descending Triangle: Typically a bearish continuation pattern, but can break upward if buyers take control.

Fibonacci Retracement Analysis: Retracement from the recent swing high (~2864) to low (~2746), and price is currently around the 50% retracement level.