Graphite India Ltd – Rising Wedge Pattern

GRAPHITE Graphite India is showing a recovery attempt and is currently trading around ₹763.10. The stock is consolidating within a Rising Wedge pattern, indicating a crucial technical setup. 🔑 Support: ₹740.97 | ₹723.20 | ₹700 🚧 Resistance: ₹769.30 | ₹787.72 | ₹815.40 🚀 Upside Targets: ₹815.40 | ₹861.50 📈 Technical Outlook: A sustained breakout above ₹787.72 with strong volume could strengthen bullish momentum and open the possibility of further upside. RSI at 52.15 indicates improving but relatively neutral momentum, while MACD remains in negative territory. On the downside, a breakdown below ₹723.20 could weaken the recovery and trigger further selling pressure. Conclusion: Graphite India is approaching a crucial breakout zone. Traders should monitor ₹787.72 for bullish confirmation and ₹723.20 as an important downside level. Proper stop-loss discipline and risk management are essential.