Ingersoll-Rand (India) Ltd (Daily Chart): Recovery Move Toward Descending Resistance with Strong RSI Expansion

🔍 Technical Analysis Price Structure The stock has been moving within a broader corrective structure marked by lower highs under a declining trendline. Recent price action shows a strong upward move from the lower end of the range near rising support, indicating a sharp recovery phase. Trendlines & Structure A long-term descending trendline continues to define the dominant supply zone overhead. Price has rebounded from a rising trendline support near earlier lows, bringing it back into the mid-range of the broader structure. Key Levels (Chart Observations) ₹3,795 Zone: Major resistance aligned with the long-term descending trendline. ₹3,541–₹3,553: Immediate reaction zone where price is currently positioned. ₹3,090 Area: Strong horizontal support visible from earlier reactions. Momentum (RSI) Daily RSI has expanded sharply into higher territory, reflecting strong momentum recovery after a period of weakness. Momentum is approaching upper ranges rather than neutral zones. Volume Behaviour Recent upward candles show increased activity compared to the immediate past, indicating renewed participation during the recovery move. Observation The chart reflects a sharp rebound from structural support with improving momentum, as price approaches an important descending resistance band within the broader corrective structure. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)