Graphite India – Rising Wedge at Resistance (Daily Chart)

📊 Graphite India – Rising Wedge at Resistance (Daily Chart) The stock has delivered a strong rally from the lower demand zone and is now trading inside a rising wedge structure, approaching a crucial resistance area near ₹700–₹710. 🔎 Technical Observations: Clear Rising Wedge formation Strong bullish momentum from base (~₹540 zone) Price trading above 20 & 50 EMA Bollinger Band expansion with price near upper band RSI hovering in bullish zone (near 60–65) Momentum indicator positive but slightly stretched 🔑 Key Levels to Watch: Immediate Resistance: ₹700–₹710 Breakout Zone: Sustained close above ₹710 Immediate Support: ₹650 Major Support: ₹600–₹590 (trendline support) 📈 Bullish Scenario: If price sustains above ₹710 with volume expansion, upside targets: ₹740 ₹760 ⚠️ Caution: Rising wedge is generally a bearish pattern. Rejection from resistance can trigger pullback toward ₹650 / ₹600 zone. Currently structure remains bullish unless wedge breakdown occurs. ⚠️ For educational purposes only. Not a buy/sell recommendation. — AALGO BREATHS