🐟 Avanti Feeds Ltd. – Trendline Support Bounce, RSI Reversal

🔹 Price Action CMP: ₹746 (+15.24%) – sharp rebound this week. Price took support at ₹674 trendline (long-term rising support). Strong breakout above the falling trendline resistance from April–August decline. 🔹 Technical Observations Trendline Support: Bounce from long-term rising support line → structural bullishness intact. RSI Breakout: RSI reversed from oversold levels and broke its falling resistance line → confirms momentum shift. Volume: Decent volume seen on bounce, suggesting accumulation interest. Resistance Ahead: Price near ₹750–770 resistance zone (previous supply area). Sustaining above this zone is key for continuation. 🔹 Key Levels Immediate Resistance: ₹770 → if crossed, next at ₹850–₹900. Immediate Support: ₹674 (trendline). Major Support: ₹600 (previous swing low). 🔹 Indicators RSI ~52: Fresh breakout from downtrend → bullish momentum starting. Trend: Medium-term trend intact; correction phase may be ending. Volumes: Pick-up supports short-term reversal. 🔹 Strength & Risk ✅ Bounce from long-term trendline support. ✅ RSI bullish reversal after prolonged downtrend. ❌ Supply pressure likely near ₹770–₹800 zone. ❌ Broader structure still sideways since March 2024. 🔹 Outlook Short Term: Positive above ₹770; can test ₹850–₹900. Medium Term: If sustains above ₹900, stock can resume long-term uptrend. Risk: Failure to hold ₹674 may drag stock back to ₹600. 📌 Strategy Traders: Accumulate on dips above ₹700 with SL ₹674. Positional: Add only on weekly close above ₹770 for higher targets. 📢 Disclaimer: Educational analysis only, not investment advice. 🧑‍💼 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332).