IGL

Near Key Support — Bounce Could Trigger Recovery Rally

Shares of

are showing early signs of a potential bullish bounce after a prolonged correction, as the stock approaches a strong demand zone near ₹155–₹160. The RSI around 38 indicates the stock is nearing oversold territory, suggesting selling pressure may be exhausting, while the recent candle showing buying interest hints at accumulation at lower levels. If the stock sustains above the ₹160 support and attracts fresh volume, it could stage a recovery toward ₹175–₹185 in the near term. In my view, the current level offers a favorable risk-reward setup for a technical rebound as buyers attempt to defend the key support zone.