ABB India — Momentum Rebuild with RSI Bullish Divergence & Range Break Attempt

🔍 Technical Analysis 1️⃣ Price Structure & Trendlines: Price has moved out of a prolonged corrective phase into a sideways base formation. The recent push toward the upper boundary of consolidation suggests early strength, though price still operates within a broader recovery structure rather than a confirmed trend reversal. 2️⃣ Key Levels: • ₹6,200–6,300: Immediate resistance aligned with range highs. • ₹5,800–5,900: Current breakout test zone acting as near-term pivot. • ₹4,800–5,000: Strong demand base where buyers repeatedly emerged. • ₹7,500+: Higher timeframe supply from previous distribution zone. 3️⃣ Range Behaviour: Extended sideways movement inside the highlighted box indicates accumulation-like behaviour. Price compression followed by expansion attempts often precedes directional moves, but confirmation depends on sustained closes above resistance. 4️⃣ Volume Characteristics: Recent upward candles show improving volume participation, hinting at renewed interest. However, expansion remains selective, suggesting the move is still in a developing phase rather than a mature trend. 5️⃣ RSI & Momentum: Clear RSI bullish divergence is visible with higher lows forming while price remained flat-to-lower — a classic internal strength signal. RSI has also broken above its consolidation band, indicating momentum expansion and improving trend energy. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)