MM Forgings – Major Momentum Shift With Trendline Break & Decade-High Volume

1. Breakout From Long-Term Falling Trendline Price has convincingly broken above the multi-month downtrend line (red). This breakout indicates a potential shift from a corrective phase to a recovery phase. 2. Strong Bullish RSI Divergence While price made lower lows, the RSI formed higher lows — a classic bullish divergence, signalling weakening downside momentum. RSI is now rising firmly, supporting the price recovery. 3. Highest Volume in a Decade The recent weekly volume spike is the largest in almost 10 years. Such volume expansion usually reflects strong institutional activity and makes any breakout more reliable. 4. Reclaim of Key Price Levels Price has reclaimed the ₹335–₹350 zone and is now heading toward the next horizontal supply near ₹385–₹400. Price stability above these zones strengthens the structure further. 5. Positive Structure Emerging Trendline breakout + RSI divergence + massive volume = a powerful combination indicating a structural turnaround. Higher highs/higher lows formation may be the next step if follow-through strength continues. 📌 Summary View MM Forgings shows a high-probability trend reversal setup, backed by: ✔ Decade-high volume ✔ Bullish RSI divergence ✔ Breakout from long-term falling trendline ✔ Price reclaiming important zones The next few candles will confirm whether this momentum sustains near overhead resistance. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)