📊 HDFC AMC Ltd – Weekly Technical Analysis

📈 1. Rising Trendline and Resistance Rejection The stock broke out above a long-term ascending trendline, but this week's candle shows a rejection from the ₹5,278 high, forming a bearish rejection wick. The price also closed below the prior breakout level of ~₹5,100, indicating a potential false breakout or retest failure. 📉 2. Bearish Weekly Candle The current weekly candle is a bearish engulfing-type, with a long upper wick, suggesting profit booking at higher levels. Volume was relatively lower, which suggests lack of aggressive selling, but also declining bullish conviction. 📉 3. Relative Strength Index (RSI) RSI at 66.84 — very close to the overbought zone (70). Bearish divergence potential forming as RSI made a lower high while price made a higher high. The RSI slope is flattening, and the distance from the moving average is narrowing — a typical pre-consolidation setup. 🧑‍💼 SEBI-Registered RA: Rajneesh Sharma (INH000020332) 📢 Informational purpose only. Not a buy/sell call. 📄 Markets carry risk. Read documents carefully