FACT — Key Support Reaction After Channel Breakdown
FACT
• Price had been moving inside a falling channel after the sharp correction from the ₹1100 region
• Recent move shows a strong rebound from the lower demand zone
📊 Key Price Zones
• ₹910 – Major overhead resistance from prior swing supply
• ₹794–₹800 – Immediate resistance zone
• ₹754 – Important pivot level reclaimed after bounce
• ₹624 – Strong structural support and recent demand zone
⚡ Price Behaviour
• Price reacted sharply after touching the ₹624 demand region
• Current move indicates a relief rally toward the mid-range resistance zone
📈 Momentum
• RSI shows bullish divergence, suggesting weakening downside momentum
• Momentum recovery visible after prolonged selling pressure
📊 Trend Context
• The broader structure remains range-bound between ₹624 and ₹910 until a decisive breakout occurs
📢 Disclaimer: For educational and technical analysis purposes only; not investment advice.
👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)