Indegene – Double Bottom Breakout Setup (Daily Chart)

📊 Indegene – Double Bottom Breakout Setup (Daily Chart) After a sustained downtrend, the stock has formed a double bottom structure (Bottom 1 & Bottom 2) near ₹455–₹465 zone, followed by a strong recovery candle with rising volume. 🔎 Technical Observations: Strong demand visible around ₹450–₹460 Higher low formation after second bottom Price attempting to reclaim short-term resistance near ₹500 Break above minor descending trendline MACD turning positive with bullish crossover RSI recovering above 50 → momentum shift starting 🔑 Key Levels to Watch: Immediate Resistance: ₹500–₹510 Major Breakout Level: ₹520 Immediate Support: ₹485 Strong Support: ₹455–₹465 🚀 Sustained breakout above ₹520 can open upside towards: ₹550 ₹575–₹580 (as marked target zone) Structure suggests early reversal signs. Confirmation above ₹500–₹520 zone is crucial for continuation. ⚠️ Risk management below ₹455 on daily closing basis. For educational purposes only. Not a buy/sell recommendation. — AALGO BREATHS