GMDC – Rising Wedge Breakdown Watch (Daily Chart)

📊 GMDC – Rising Wedge Breakdown Watch (Daily Chart) The stock has been trading inside a rising wedge pattern after forming a double bottom base. Price recently faced rejection near the upper supply zone and is now testing the lower boundary of the wedge. 🔎 Technical Observations: Clear Rising Wedge formation (bearish structure) Rejection from ₹630–₹640 supply zone (Top 2 area) Multiple lower highs forming near resistance Price slipping below short-term EMA RSI cooling off from overbought zone Momentum indicator showing bearish crossover Volume expansion on recent red candles 🔑 Key Levels to Watch: Immediate Support: ₹545–₹550 Major Support Zone: ₹520–₹525 Breakdown Confirmation: Sustained close below ₹520 ⚠️ If breakdown confirms below ₹520, possible downside towards: ₹500 ₹480 ₹460 (previous demand zone) 📈 On the flip side, reclaim above ₹600–₹610 can invalidate bearish setup and reopen upside towards ₹635+. Structure currently favors cautious approach unless strong recovery seen. ⚠️ For educational purposes only. Not a buy/sell recommendation. — AALGO BREATHS