Jupiter Wagons — Base Formation After Prolonged Downtrend

Price has been declining under a well-defined falling trendline since the previous peak. Recently, the stock has started stabilising inside a horizontal demand zone, suggesting early signs of base formation. 📊 Key Levels • ₹399 – Major overhead resistance from prior swing supply • ₹320–340 – Intermediate resistance area inside the base • ₹288 – Immediate demand zone where price is stabilising • ₹245 – Major structural support 📉 Trend Context The broader trend remains corrective while price trades below the descending resistance lines. However, the current sideways movement inside the demand band indicates selling pressure is gradually fading. ⚡ Momentum RSI has moved sideways within a tight band after a prolonged decline, signalling momentum stabilisation and potential accumulation phase. 📊 Participation Volume spikes near the lower boundary suggest intermittent buying interest emerging around the demand zone. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)