🔥 Manaksia Coated Metals & Industries Ltd. – Strong OBV Bounce with Volume Expansion

This chart shows a powerful momentum setup emerging in Manaksia Coated Metals & Industries Ltd. The stock has surged sharply with strong volume participation, and notably, On-Balance Volume (OBV) has bounced aggressively from its base — a classic confirmation of fresh accumulation. 🔹 Technical Overview Pattern: Continuation breakout attempt after consolidation. Volume: Highest in months — a clear indication of institutional activity. OBV: Sharp uptick (highlighted) — confirms that buying pressure is outpacing selling volume. RSI: Rising toward 70, but not yet in overbought zone — still has room to expand. Trend: Higher highs and higher lows intact on weekly chart. 🔹 Interpretation ✅ OBV surge validates the rally — suggesting the move is backed by genuine buying, not speculation. ✅ Momentum improving across indicators (RSI, price structure, volume). ✅ Sustaining above ₹160 will keep the bullish structure intact. ⚠️ Minor resistance may appear near ₹180–₹185 (previous high zone). 🟢 View This setup reflects a volume-backed continuation breakout with strong OBV confirmation — a healthy technical structure for further upside. If price sustains above ₹175–₹180, next potential targets could open toward ₹200–₹220. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)