DCW Ltd – Back Inside Long-Term Channel, Testing Major Support

1. Price Back Inside the Long-Term Channel DCW has re-entered its broader ascending price channel after slipping below it briefly. This suggests the lower boundary of the channel is still respected by market participants. The price has now touched the bottom green support trendline, which has acted as a reliable anchor since 2021. 2. Major Horizontal Support Being Tested The zone around ₹50–52 has held multiple times historically (left and mid sections of the chart). Price once again bounced precisely from this zone, confirming demand at the lower boundary. 3. Selling Pressure, but Controlled Decline Despite recent selling, the candles show: Long lower wicks Reduced downward momentum No fresh breakdown below support This implies sellers are active, but buyers are responding strongly at support. 4. RSI at Oversold Territory RSI is deeply oversold and has reached a region from which previous reversals have occurred. Momentum is weak, but the oversold condition increases the probability of a pause or bounce. 5. Structure Outlook Constructive factors: Price respecting long-term rising support Oversold RSI Strong historical support zone Channel structure intact Risk factors: No bullish reversal pattern yet RSI still trending down Selling volume has increased in recent weeks This setup suggests a potential technical stabilisation, but confirmation through sideways consolidation or supportive candles is required before any trend reversal bias. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)