EdTech Stock Breaks Out of Double Bottom - Fresh Upside Towards ₹150?

Stock to Watch: PhysicsWallah (PWL)

PhysicsWallah Breaks Above Key Resistance Zone

PhysicsWallah has been recovering nicely off the Rs. 114–116 zone, and along the way it's formed a double-bottom pattern on the daily chart, with the neckline sitting around Rs. 130–132. That neckline has now been taken out — the stock broke above it on a strong bullish candle and closed at Rs. 136.10. What backs this move up is the sharp jump in volume that came along with the breakout, adding real weight to the bullish price action.
 

Bullish EMA Setup Supports the Up move

The moving averages are also lining up in favour of the bulls now, with the stock trading above all its key EMAs. The 9-EMA sits at Rs. 125.16, 21-EMA at Rs. 126.69, 50-EMA at Rs. 123.94, 100-EMA at Rs. 121.86, and the 200-EMA at Rs. 117.12. The shorter-term averages are curling upward, and price has moved well clear of them. That puts the Rs. 130–132 zone in a good spot to act as support going forward.

RSI and Volume Confirm Improving Momentum

RSI has climbed to around 64.6, comfortably above the 50 marks, which shows buying momentum is picking up nicely. Volume backs this up too — the latest reading came in at around 41.16 million against an average of roughly 21.79 million, which is a solid confirmation for the breakout. On the upside, Rs. 140–143 looks like the immediate resistance, with Rs. 147–150 as the next zone after that, while Rs. 130–132 stays the key support to hold onto now that it's broken out.

Disclaimer: The article is for informational purposes only and not investment advice.