Jupiter Wagons Ltd – RSI Divergence Develops Below Key Weekly Resistance

Price has rebounded from a recent swing low but remains capped below a declining resistance trendline. The broader structure still reflects a corrective phase following the prior downtrend, with price consolidating in a defined range. 📐 Structure, Levels & Trendlines Price is trading between a key support band around ₹285–300 and overhead resistance near ₹390–400. A falling trendline from the previous peak continues to act as supply, limiting upside follow-through. The 30-week SMA is flattening, indicating a pause in directional momentum rather than a clear trend. 📊 Momentum & RSI Behavior RSI has formed a bullish divergence, with higher lows in momentum despite relatively flat-to-lower price action. RSI is hovering near the mid-zone (~50), suggesting improving momentum but not yet strong enough to signal dominance. 📉 Volume Characteristics Recent up-moves have been accompanied by improved volume, but participation remains inconsistent near resistance zones. Lack of sustained expansion in volume near the trendline keeps the structure neutral. 🧩 Technical Interpretation The chart reflects early signs of momentum stabilization via RSI divergence, but price remains constrained by overhead resistance and trendline supply. A stronger confirmation would require alignment between price expansion and RSI strength beyond the mid-range. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)