🟢 ABFRL – Bullish RSI Divergence & Trend Reversal Attempt from Support Zone

🔹 Price Action Aditya Birla Fashion & Retail (ABFRL) has been under pressure for several months, sliding down from the ₹120 zone. The stock recently tested the crucial support zone near ₹71, where it found buying interest and formed a reversal attempt. The chart shows a downtrend break, with price starting to recover towards ₹84–85 resistance, which will be the immediate hurdle for bulls. Sustaining above this zone could open the way for higher levels. 🔹 Technical Signals Bullish RSI Divergence: While the price made lower lows, RSI formed higher lows – signaling momentum loss on the downside and a potential reversal. Trendline Break: The downtrend line has been breached, indicating the selling pressure is weakening. Support Zone: The ₹70–71 region has held strong multiple times in the past, acting as a solid base. 🔹 Levels to Watch Support: ₹71 (strong support base). Immediate Resistance: ₹84–85. Next Resistance: ₹95+. A sustained close above ₹85 will strengthen the bullish case and could take the stock towards ₹95–100 levels. 📊 Summary ABFRL is showing early signs of trend reversal supported by bullish RSI divergence and buying interest at support. The stock must clear ₹85 resistance to confirm momentum for higher levels. Until then, consolidation in the ₹71–85 band may continue. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.