LTIMindtree Ltd (NSE: LTIMINDTREE) – Weekly Chart Analysis

🟠 Chart Pattern Symmetrical triangle forming since late 2021 with converging support and resistance lines. Price is now pressing against the upper trendline, hinting at a possible breakout. Long-term support held firmly around ₹3,800, forming a base. 🟢 Support Levels ₹3,800: Major structural support tested multiple times; also aligns with high-volume buying zone. ₹5,000: Psychological and intermediate support from prior consolidation zones. 🔴 Resistance Levels ₹5,600–₹5,700: Upper boundary of triangle; potential breakout trigger. ₹6,750–₹7,000: Previous all-time highs; strong supply zone. Momentum Indicators RSI: Currently at 57.77, rising from sub-30 lows—suggests strong bullish momentum rebound. RSI recently crossed above its moving average (~42.04), reinforcing the bullish divergence and potential trend reversal. Volume Profile Volume remains subdued, but modest increase in recent green candles suggests early accumulation. A breakout will require a decisive volume spike above average (currently ~112.25K). Bullish Case 📈 A breakout above ₹5,700 could trigger a trend continuation toward ₹6,750–₹7,000, reclaiming pre-correction highs. Positive divergence in RSI with a strong base near ₹3,800 enhances upside risk-reward. Symmetrical triangle breakouts often lead to sharp moves in the direction of the breakout. 📢 Disclaimer: For educational purposes only. Not a buy/sell recommendation. I may or may not hold a position. Rajneesh Sharma is a SEBI-registered Research Analyst (INH000020332). Investments are subject to market risks.