HONASA - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 4.1

Here’s a detailed technical analysis of Honasa Consumer Ltd (HONASA) based on current indicators and chart behavior

📊 Trend Overview

Current Phase: Trending upward with early breakout signs

Price Action: Trading above both 50-DMA (₹292) and 200-DMA (₹294), confirming bullish momentum.

Volume: Slightly below 1-week average, suggesting mild accumulation but not yet breakout-level enthusiasm.

📈 Momentum Indicators

RSI (62.2): Bullish zone — approaching overbought territory, indicating strength with caution for short-term traders.

MACD (4.83): Positive and diverging — confirms bullish momentum.

Bollinger Bands: Price likely near upper band, suggesting strength but also potential for short-term pause or pullback.

🧭 Chart Patterns

Rounded Base Formation: Price recovery from ₹190 lows forming a smooth base — bullish continuation setup.

Trendline Support: Rising trendline from ₹190 remains intact, supporting the current structure.

🔍 Support & Resistance Levels

Level Price (₹) Commentary

Support 1 292 50-DMA, short-term base

Support 2 275 Previous swing low

Support 3 250 Long-term support zone

Resistance 1 320 Minor resistance zone

Resistance 2 350 Psychological level

Major Resistance 494 52-week high

🎯 Entry & Exit Zones

Optimal Entry: ₹292–₹305 (on dips with volume confirmation)

Short-Term Target: ₹320–₹350

Exit Zone / Stop-Loss: ₹275 (below swing support)

🔄 Short-Term Outlook

Momentum: Strong and accelerating

Bias: Bullish above ₹292; cautious below ₹275

Phase: Trending — no signs of reversal or consolidation

🧠 Key Takeaways

HONASA is showing a steady uptrend supported by bullish indicators and a breakout from base levels.

RSI and MACD confirm momentum, while moving averages reinforce trend strength.

A decisive close above ₹320 with volume could push toward ₹350–₹400.

Sources: ET Money Technicals, Stock Price Archive Forecast, TradingView Ratings

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