Dead-Cat Bounce or Distribution?

MMTC

Under Pressure

remains structurally weak on the daily chart, with the broader trend still tilted bearish. The recent sharp rebound from lower levels looks more like a technical pullback rather than a trend reversal, as price has once again failed to sustain above the ₹66–67 supply zone. Volumes spiked on the bounce, but follow-through buying is missing, hinting at selling into strength. With ADX elevated, downside momentum remains active, and a break below ₹64 could reopen the path toward ₹60–58. Overall, the setup favors a sell-on-rallies approach unless a decisive close above resistance changes the structure.