FACT – Rebound From Long-Term Support With RSI Stabilising Below Resistance

1. Long-Term Trend Support Holding Price has reacted positively from the rising long-term trendline (green), a zone that has previously acted as a demand area. This bounce suggests that buyers are still defending the broader uptrend structure despite recent volatility. 2. Price Back Above Key Support Zone After slipping below the mid-range earlier, price has moved back above an important horizontal support band. This improves short-term structure and reduces immediate downside pressure. 3. Overhead Supply Still Active The falling trendline (red) from previous highs continues to cap upside attempts. This area has repeatedly attracted selling, making it a critical zone to monitor for any sustained trend shift. 4. RSI Showing Stabilisation, Not Strength Yet RSI has rebounded from lower levels and is attempting to stabilise near the 45–50 zone. While this indicates loss of bearish momentum, RSI strength above 55–60 would be needed to confirm bullish follow-through. 5. Structure Remains Range-Bound Bounce from rising trendline Price stuck between support and descending resistance RSI neutralising, not leading Overall, the chart reflects support-led recovery, but the trend remains undecided until price and RSI show stronger alignment beyond overhead resistance. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)