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Rajneesh Sharma CFTe

2nd Jan · SEBI-Registered Analyst

Igarashi Motors India Ltd – Volume Spike Amid Resistance Cluster and RSI Lag

IGARASHI
Price has rebounded from a prior support zone near ₹440 and is now approaching multiple overhead resistance levels — notably near ₹472, ₹500, and the descending trendline. A notable volume spike has emerged, indicating renewed interest, but the RSI remains capped under a declining trendline. The stock is attempting to reclaim the 30-week SMA, which aligns with the lower resistance zone. 📈 Momentum & Trend Insights RSI is rising, currently near 46, but needs to break past its falling trendline to confirm broader strength. Despite the strong volume, price has not yet moved beyond the congestion zone, keeping the trend indecisive. Historical price action shows supply pressure around ₹500–₹528, making it a key test zone ahead. 🧩 Interpretation While participation is increasing, a clean breakout in both price and RSI is needed to overcome the heavy resistance cluster and confirm trend reversal. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)

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