⚙️ Gravita India – Range Breakout in Progress, Eyes on 200-Day EMA!

Chart Structure Gravita India has been consolidating within a broad rectangle range between ₹1,530 (support) and ₹1,920 (resistance) for nearly 10 months. The current breakout attempt from the lower end toward the upper resistance marks a shift in sentiment after prolonged accumulation. Key Technical Levels Support Zone: ₹1,520–₹1,550 (multiple rejections, strong base) Immediate Resistance: ₹1,920 (top of the rectangle + 200 EMA) Next Swing Resistance: ₹2,100–₹2,250 (Fibonacci 1.272 projection) A decisive close above ₹1,920 with volume confirmation would confirm a range breakout, opening a move toward ₹2,250+ in the coming weeks. Moving Average Confluence 200 EMA (blue line) near ₹1,920 is acting as a make-or-break zone. AVWAP from 2023 bottom (green) remains well below price, showing long-term bullish structure and institutional cost support near ₹1,400–₹1,500. Momentum View Price action shows a strong 8% surge with expanding candles and rising volume — early signs of short covering + fresh buying. If sustained above ₹1,750–₹1,780, the stock could retest ₹1,920 swiftly. Elliott Wave Hint Within the broader structure, this could be the start of Wave 3 of a new bullish cycle after a flat corrective Wave 2 base between ₹1,530–₹1,920.