Angel One Limited

Lower High Under Falling Trendline – Breakdown Brewing? Timeframe: Daily Current Price: ~₹2,690 This chart is showing a classic distribution structure under declining resistance. 🔹 Elliott Wave Perspective From the recent swing: Impulsive fall from ~₹2,850 → ₹2,350 (Wave 1) Corrective bounce to ~₹2,780 (Wave 2) Current move looks like early stages of Wave 3 down attempt Also: Each bounce is making lower highs Price rejected again near the falling trendline Structure favors downside continuation unless ₹2,800 decisively breaks. 🔹 MACD Insight (Structure-Based View) Although indicator not shown: Momentum on recent bounce appears weaker than prior rally Likely forming bearish momentum divergence Histogram contraction into resistance Momentum is not expanding with price — classic exhaustion signal. 🔹 AVWAP Interpretation If we anchor AVWAP from: Swing high near ₹2,850 OR Major breakdown candle Price is repeatedly getting rejected near that zone. AVWAP is acting as dynamic resistance. 🔹 Price Structure Summary Strong supply zone: ₹2,780–2,820 Immediate support: ₹2,600 Breakdown trigger: Below ₹2,550 Next demand zone: ₹2,450–2,500 Arrow on your chart suggests move toward ₹2,500 region — technically valid if support cracks.