D-Link (India) Ltd – Weekly Structure Holding Key Fibonacci Support

After a sharp up-move and peak near ₹690–700, the stock has undergone a deep corrective phase. Price is now stabilising after retracing a major portion of the prior rally and breaking the steep falling structure. 🔎 Key Technical Observations Trend & Structure The long-term downtrend from the top has been violated, indicating loss of bearish momentum. Price is attempting to form a base above the recent swing low near ₹400–410. Support Zones Strong demand zone around ₹365–375, which aligns with the prior swing base. Immediate working support seen near ₹410–420, where price is currently holding. Resistance Zones Overhead supply near ₹470–480 (0.618 Fibonacci retracement zone). Next resistance band around ₹520–560, coinciding with prior distribution and mid-Fibonacci levels. Upper retracement zone extends towards ₹680–690. Fibonacci Structure Current price is hovering near the 0.236–0.382 retracement band (₹420–470). Holding above this zone keeps the broader recovery structure intact. RSI Behaviour RSI has rebounded from sub-30 levels, indicating oversold exhaustion. RSI is attempting to move back above the mid-40 zone, suggesting early momentum recovery but not yet strength. Volume Volume expansion near the recent lows hints at selling climax followed by absorption. Recent up-weeks show relatively lower volume, pointing to consolidation rather than breakout. 🧩 Interpretation The stock appears to be in a post-correction stabilisation phase after a sharp retracement. As long as price sustains above ₹400–410, the structure favours range building with scope for gradual recovery. Upside momentum will require acceptance above ₹480–500 to confirm strength; otherwise, consolidation may persist. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)