📈 Ankit Metal & Power – Sideways Consolidation, Rising RSI Trendline

🔹 Price Action CMP: ₹1.95 (+1.02%). Stock consolidating in a narrow range ₹1.78–₹2.11 for several weeks. Price holding above immediate support zones. 🔹 Technical Observations Sideways Channel: Stock stuck in horizontal range; breakout above ₹2.11 crucial. Rising RSI Trendline: RSI showing higher lows → underlying strength despite flat price. Support: Strong base around ₹1.78–₹1.84. Resistance: ₹2.11 remains key supply zone. 🔹 Key Levels Immediate Resistance: ₹2.11. Immediate Support: ₹1.90. Major Support: ₹1.78. 🔹 Indicators RSI ~53: Momentum gradually improving, bullish divergence visible. Volume: Muted, awaiting breakout confirmation. Trend: Neutral in price, but RSI suggests potential upward bias. 🔹 Strength & Risk ✅ RSI divergence with price flat → accumulation signal. ✅ Multiple supports tested and held. ❌ Still range-bound, needs breakout for momentum. 🔹 Outlook Short Term: Likely consolidation within ₹1.90–₹2.11. Medium Term: Close above ₹2.11 → opens upside toward ₹2.40–₹2.60. Risk: Failure to hold ₹1.78 → downside risk increases. 📌 Strategy Traders: Enter only on close above ₹2.11 with SL below ₹1.90. Investors: Accumulate gradually near ₹1.80–₹1.90 zone with SL below ₹1.78. 📢 Disclaimer: This is educational analysis, not investment advice. 🧑‍💼 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332).