Afcons Infrastructure Ltd – Bullish Reversal Setup

The stock is showing early signs of recovery after forming a base near an important support zone. Price action suggests that selling pressure may be gradually easing, while momentum indicators are beginning to improve. However, confirmation of the recovery will be important before expecting a sustained upside move. 🔎 Technical View: • The stock is holding above the key ₹282–₹270 support zone, indicating that buyers are attempting to defend lower levels. • A potential bullish reversal structure appears to be developing after the recent consolidation. • Short-term momentum is gradually improving, suggesting a possible shift in market sentiment. • A sustained move above the immediate resistance zone could strengthen the recovery setup. • Traders should closely monitor price action and volume around the breakout levels for confirmation. 🔑 Key Levels: • Support: ₹282–₹270 • Immediate Resistance: ₹294–₹296 • A decisive and sustained move above ₹296 could indicate stronger buying momentum. 🚀 Potential Targets: • Target 1: ₹306 • Target 2: ₹319 • Target 3: ₹331+ 📉 Risk: If the stock breaks and sustains below ₹270, the current recovery structure could weaken, and further downside pressure may emerge. Therefore, ₹270 remains an important level to monitor from a risk-management perspective. 📈 View: The overall setup is showing signs of improvement, but confirmation remains important. A sustained breakout above ₹296, preferably accompanied by stronger participation and positive price action, could trigger fresh upside momentum towards ₹306, ₹319 and potentially ₹331+. Until then, the stock may continue to remain range-bound between the key support and resistance zones. ⚠️ For educational purposes only. Not a buy/sell recommendation. — AALGO BREATHS 📊