GMDC – 4H Technical View

📊 GMDC – 4H Technical View The stock is showing range-bound recovery after forming a higher low structure, but it is still trading below a major descending trendline, which is acting as strong resistance. 🔍 Technical Observations: Price bounced from higher low, indicating short-term strength Still below long-term downward trendline → trend not reversed yet Momentum indicators improving but not fully bullish RSI near 55–58, neutral-to-positive zone Volume is average, no strong breakout confirmation yet 🔑 Key Levels: Immediate Support: ₹560 – ₹545 Resistance: ₹610 – ₹620 (trendline zone) Upside Target (only on breakout): ₹670 – ₹690 📈 Outlook: As long as GMDC trades below ₹620, the move remains pullback within a broader range. A sustained breakout above the trendline with volume can trigger fresh upside momentum. Failure to hold ₹560 may bring consolidation or mild downside. ⚠️ Educational view only. Not a buy/sell recommendation. — AALGO BREATHS