Essar Shipping Ltd — Weekly Breakout & 3-Month Positional View
📊 Chart Overview
Essar Shipping Ltd (NSE: ESSARSHPNG-BE) has broken out of its long consolidation range between ₹20 and ₹30, now trading around ₹40 with strong bullish momentum.
- Price action shows confirmed breakout above 50-week SMA.
- MACD and RSI both showing rising momentum.
- Volume expansion supports sustained trend reversal.
🎯 Positional Trade Plan (3-Month Outlook)
| Parameter | Level / View |
|---|---|
| CMP | ₹40.00 (approx) |
| Immediate Support | ₹32–₹34 |
| Stop Loss | ₹31 (Weekly Close) |
| Target (3 Months) | ₹52 → ₹58 |
| Extended Target (6 Months) | ₹65 → ₹70 |
| Time Horizon | 8–12 Weeks |
| Risk : Reward | ≈ 1 : 2.5 |
🧠 Technical Summary
- Rounded base breakout after long accumulation phase.
- MACD shows bullish crossover — histogram widening.
- RSI near 70 — strong but not overbought.
- Next hurdle zone: ₹45–₹48.
📰 Recent News Highlights
- Stock surged over 40% in October 2025 amid strong volume and renewed interest.
- NSE & BSE sought clarification on unusual price movement — no undisclosed events found.
- Essar Group restructuring underway to optimize debt and operations.
- India’s coastal cargo & port policy aiding shipping sector revival.
✅ Summary: Bullish breakout confirmed above ₹34. Hold or buy on dips near ₹36–₹38. Stop loss ₹31. Targets ₹52 → ₹58 (3 months), ₹70 (6 months). Strong technicals with improving sentiment.
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