Relief Rally or Bull Trap?

DEVYANI

Faces a Key Test

has staged a sharp pullback bounce from lower levels, but the broader structure still leans bearish on the daily chart. The stock is testing the ₹150–155 supply zone, which previously acted as strong resistance and coincides with declining averages. Despite the uptick, the move looks reactive rather than trend-changing, as the price remains below prior breakdown levels. Elevated volume suggests active participation, but unless the stock sustains above ₹155, the rally risks fading. A rejection near this zone could drag the stock back toward ₹140–135, keeping the overall bias cautious to negative.