This is the weekly chart of Max Healthcare Institute Limited

1️⃣ Prior Trend Before the boxed area, the stock had a strong multi-month uptrend: From ₹450 → ₹1300 Clear higher highs and higher lows After such a large rally, stocks usually enter distribution or consolidation. 2️⃣ The Distribution Range Inside the box, price moved sideways for many months. Range boundaries approximately: Resistance: ₹1280 – ₹1300 Support: ₹940 – ₹960 What is important: Several rejections near ₹1300 Multiple tests of ₹950 support This usually signals institutional selling near the top. 3️⃣ Current Situation Price is now testing the major support zone again: ₹940 – ₹960 The latest candles show: Increasing bearish momentum Lower highs forming Weak bounce attempts This indicates support is under pressure. 4️⃣ Breakdown Trigger A weekly close below ₹940 would confirm a range breakdown. Once that happens: Long-term traders exit Stop losses trigger Downside momentum accelerates 5️⃣ Downside Target Range height: Resistance ≈ ₹1300 Support ≈ ₹950 Range ≈ ₹350 Breakdown projection: ₹950 − ₹350 ≈ ₹600 However, practical support levels appear earlier. Key downside levels: Level Reason ₹900 Psychological level ₹850 Strong demand zone ₹800 Major historical support Your arrow toward ₹820–₹850 area is technically reasonable. 6️⃣ Bearish Signals Visible Important warning signs: Lower highs since the peak Range top rejected many times Support tested multiple times This pattern often precedes trend reversals. 7️⃣ Bullish Invalidation The bearish scenario fails if price: Moves back above ₹1050 Breaks ₹1150 Then the stock could return inside the range. ✅ Summary Factor Observation Pattern Large distribution range Support ₹940 Breakdown trigger Weekly close < ₹940 Downside target ₹850 → ₹800 Your projection toward ₹820–₹850 zone is technically logical.