🖊️ Flair Writing – Sharp Rally Faces Overhead Resistance

🔶 1. Channel Resistance Approached After V-Shaped Recovery Stock witnessed a steep V-shaped recovery from sub-₹260 levels and now faces resistance at the upper boundary of the rising channel. This level has previously acted as a turning point—so some hesitation is expected. 🔶 2. RSI Bearish Divergence Confirmed While price made a new high, RSI failed to follow, creating a bearish divergence near 75 levels. This divergence hints at momentum exhaustion, not a signal to short blindly, but definitely a time to be cautious. 🔶 3. Structure Still Strong, But Fresh Entry Risk-Reward Not Ideal Trend remains upward, and the breakout structure is valid. However, new entries should wait for a dip toward support (~₹316) or a consolidation breakout above current levels with strong volume. 🧠 Technical View “Momentum cooling at resistance. Better to avoid chasing here. Wait for either a dip toward ₹316 or a strong candle above ₹355 with volume before reconsidering.” Caution ⚠️ doesn't mean exit, it means strategy shift. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.