BLS International – Downtrend Pullback Setup (Daily Chart)

📊 BLS International – Downtrend Pullback Setup (Daily Chart) Stock has been in a clear lower high – lower low structure, indicating sustained selling pressure. Recently, a sharp bounce from ₹240–₹250 zone shows short-term relief, but overall structure still needs confirmation. 🔎 Technical Observations: Strong bounce from demand zone near ₹245 High volume spike during reversal candle Price trying to reclaim 20 EMA Still trading below major resistance band RSI recovering from oversold zone (above 45–50) MACD showing bullish crossover, but below zero line (early stage recovery) 🔑 Key Levels to Watch: Immediate Resistance: ₹290–₹300 Major Resistance: ₹320 Immediate Support: ₹260 Strong Demand Zone: ₹240–₹250 🚀 Only sustained move above ₹300–₹320 can shift structure toward bullish momentum. Until then, this looks like a pullback inside a broader downtrend. ⚠️ Risk management is crucial in such counter-trend moves. For educational purposes only. Not a buy/sell recommendation. — AALGO BREATHS