IndiaMART seeks a base below its falling EMAs

is attempting to hold near the chart’s displayed ₹61.95 level after a long, persistent decline. The moving-average stack remains bearish: price is below the 20-EMA at ₹62.06, the 50-EMA at ₹64.39 and the 200-EMA around ₹73.76. With all three averages sloping lower and positioned above price, the stock has not yet established a reversal structure. The ₹60–62 area is now the immediate battleground. Recent candles suggest that buyers are appearing near the latest low, but the response remains small compared with the preceding fall. A breakdown below ₹60 would extend the lower-low pattern and could open fresh downside. Conversely, the first sign of relief would be a sustained close above the 20-EMA around ₹62, followed by a recovery through ₹64–65 where the 50-EMA sits. The 200-EMA near ₹74 is the larger trend-defining level and remains well above the market, highlighting the scale of the repair required. IndiaMART’s digital marketplace model can support long-term interest, but this chart is about risk control rather than anticipation. The stock needs to form a durable base above ₹60, print higher lows, and reclaim the short-term EMAs before the broader technical view can improve. Until then, any bounce should be treated as a counter-trend move within a prevailing downtrend.