AU Small Finance Bank Limited (Daily Chart)

CMP: ~₹958 Structure: Range Breakdown (Short-Term Distribution) Range: ₹950 – ₹1,030 🔴 What’s Happening After a strong uptrend from ~₹700 to ₹1,000+, price moved into a sideways distribution range: Resistance: ₹1,020–₹1,030 Support: ₹950 Now price is breaking below ₹950 support. That shifts short-term structure from neutral to bearish. 📉 Breakdown Implication Range height ≈ ₹80 Breakdown projection: ₹950 – ₹80 ≈ 🎯 ₹870–₹880 Your arrow toward ₹880 zone is technically reasonable. Downside potential: ~7–9% from current levels. ⚠️ Why This Is Weak ❌ Multiple rejections near ₹1,020 ❌ Lower highs forming inside range ❌ Strong red candles near support ❌ Failed breakout attempt earlier This looks like supply overcoming demand. 📊 Key Levels Immediate Resistance: ₹980 Major Resistance: ₹1,000 Breakdown Level: ₹950 (now resistance if sustained below) Next Supports: ₹920 ₹880 Invalidation (bearish thesis): Daily close back above ₹990–₹1,000 🧠 Compared to Other Financial Charts You Shared Bandhan Bank Limited → breaking out ICICI Prudential Life Insurance Company Limited → testing breakout AU Bank → breaking down So within financials, this is relatively weaker. 🎯 Strategy View If Holding: Watch ₹950 carefully — sustained trade below favors decline. If Trading: Breakdown → Pullback to ₹950 → Short continuation toward ₹900–₹880. Avoid fresh longs unless: Price reclaims ₹1,000 decisively.