FMGOETZE (NSE) (1W) - Breakout + Retest PatternFederal-Mogul Goetze (India) LimitedNSE:FMGOETZEDr_BeanPrice Action The stock has broken out above a major horizontal resistance zone (around ₹461–₹454) after a prolonged consolidation phase. Following the breakout, the price pulled back to retest the same zone, successfully holding the support with a strong bullish candle. This clean breakout–retest structure indicates renewed buying interest and confirms the validity of the breakout. The latest weekly candle shows strong momentum as the price rebounded from the retest zone and closed near the short-term resistance around ₹534.20. This behavior suggests that the stock may be preparing for a continuation toward higher upside targets. Key Levels Support Zones: ₹534.20 – Immediate support. A strong dynamic pivot level after retest. ₹461.80 – ₹454.15 – Major structural support; successful retest confirms this as a strong demand zone. A breakdown below this level would weaken the bullish structure significantly. Resistance Zones / Upside Targets: ₹606.65 – First upside target post-breakout. ₹679.05 – Next resistance area; may act as a profit-taking zone. ₹751.50 – Higher resistance; clearing this will strengthen the bullish trend. ₹823.95 – Extended target, achievable in a strong trending phase. Volume Analysis Volume shows a noticeable expansion during both the breakout and the recent retest bounce, aligning with institutional participation. The breakout candle was supported by strong volume, adding credibility to the move. The current uptick in volume after the retest is a positive signal — typically seen during the early stages of a new trend continuation. The volume moving average also supports the growing interest in the stock. Trend & Momentum Short-term Trend: Bullish — strong bounce from the retest zone with rising momentum. Medium-term Trend: Bullish — breakout from multi-month consolidation followed by a successful retest is a classic continuation structure. Momentum: Positive — as long as the price stays above ₹534.20, momentum remains favorable. A close below ₹461.80 would weaken the momentum and invalidate the breakout structure. Possible Scenarios Bullish Case: If the price sustains above ₹534.20, the continuation move could push the stock toward: ₹606.65 ₹679.05 ₹751.50 ₹823.95 (extended upward target) A volume-backed breakout above ₹606.65 could accelerate the rally. Bearish Case: If the stock fails to hold ₹534.20 and breaks below ₹461.80, it would signal a failed retest. A sustained close below ₹454.15 would invalidate the breakout structure and may lead to deeper correction. Overall Bias: The stock is currently bullish, with a clear breakout followed by a strong retest confirmation. As long as price remains above the ₹461.80–₹454.15 zone, the medium-term outlook stays strongly positive. Upside targets point toward ₹606.65 and beyond, with potential for further rally momentum. ⚠️ Disclaimer: This chart analysis is for educational purposes only. Regulatory Note: We are an independent development team. Our services are not registered or licensed by any regulatory body in India, the U.S., the U.K., or any global financial authority. Please consult a licensed financial advisor before making investment or trading decisions.