Inox Wind: Wedge Apex Meets Bullish Engulfing

has been trading within a falling wedge structure on the weekly chart since its 2024 highs, with price now nearing the apex of the pattern around 76.18. The previous weekly candle shows a bullish engulfing formation right at this apex, while RSI at 35.21 is showing a positive divergence, not making a fresh low alongside the recent price lows. Resistance: 90, then the 120-125 zone. Support: 65-70, then the wedge's lower boundary near 60. A falling wedge nearing its apex, combined with a bullish engulfing candle and RSI divergence, is a combination technical watchers often flag as worth tracking, though the wedge still needs a decisive close above its upper boundary to shift the broader multi-year downtrend structure. Failure to hold above 70 would keep the pattern's validity in question. Whether follow-through builds on next week's engulfing candle, and whether price can close above the wedge's upper trendline in the coming sessions, will say more about the setup than this single candle on its own. A reversal candle gains more significance when it appears at a pattern's apex alongside a momentum divergence, but confirmation still needs a follow-through close beyond the structure. Disclaimer:This is for educational purposes only and is not investment advice. Please consult your financial advisor before making any investment decisions. SEBI Registered Research Analyst — INH000025212.