HEG Ltd – Falling Wedge Breakdown & Recovery Attempt (Daily Chart)

📊 HEG Ltd – Falling Wedge Breakdown & Recovery Attempt (Daily Chart) After forming a short-term top near ₹670, the stock entered a falling wedge structure and corrected sharply. Recently, price is attempting a bounce from the lower trendline support zone. 🔎 Technical Observations: Clear Falling Wedge formation (potential bullish reversal pattern) Sharp rejection from ₹660–₹670 supply zone Price holding near long-term rising trendline support (~₹515–₹520) Trading around 20 & 50 EMA cluster Bollinger Bands contracting (volatility squeeze) RSI stabilizing near 50 zone Momentum indicator attempting positive crossover 🔑 Key Levels to Watch: Immediate Resistance: ₹580–₹600 Major Resistance: ₹620 Immediate Support: ₹520 Major Breakdown Level: ₹500 📈 Bullish Scenario: Sustained close above ₹600 can confirm wedge breakout with upside targets: ₹630 ₹660 ⚠️ Bearish Scenario: Failure to hold ₹520 may lead to fresh selling pressure towards ₹500 / ₹480. Currently at a decision zone — breakout or breakdown will define next move. ⚠️ For educational purposes only. Not a buy/sell recommendation. — AALGO BREATHS