InterGlobe Aviation Limited (IndiGo – Daily Chart)

CMP: ~₹4,520 Structure: Bearish Continuation After Distribution Range: ₹4,700 – ₹5,100 🔍 What’s Happening After the sharp fall from ₹5,800 → ₹4,700, price moved into a sideways consolidation box. That box acted as: 👉 Bearish flag / distribution zone Now price has: Broken below ₹4,700 support Printed a strong red breakdown candle Closed near the low This confirms continuation weakness. 📉 Measured Move Range height ≈ ₹400 Breakdown projection: ₹4,700 – ₹400 ≈ 🎯 ₹4,300 Your marked projection toward ~₹4,200–₹4,300 zone is technically aligned. ⚠️ Why This Is Bearish ❌ Consolidation after sharp fall (not a base) ❌ Lower highs inside the box ❌ No strong bullish reversal attempt ❌ Breakdown with momentum This is classic trend continuation behavior. 📊 Key Levels Immediate Resistance: ₹4,650–₹4,700 Major Resistance: ₹4,900 Breakdown Level: ₹4,700 (now resistance) Supports: ₹4,350 ₹4,300 (measured move zone) ₹4,000 (psychological + structure) Invalidation: Strong close back above ₹4,900