🖊️ Netweb Tech India Ltd. Weekly – VCP Breakout Attempt, Momentum Building with Bullish Divergence

📊 1. Price Action & Pattern Netweb Tech India is showing signs of recovery after a sharp correction, with price action forming a Volatility Contraction Pattern (VCP). The stock has rebounded off long-term support and is now consolidating just below the ₹2,326 resistance level. The recent breakout attempt above the VCP resistance confirms a shift in trend, but sustained closing strength is necessary for full confirmation. 📈 2. Key Levels Immediate Support: ₹1,885 Next Support: ₹1,800 Immediate Resistance: ₹2,326 📉 3. Indicators RSI: At 56.35, trending upward and confirming a bullish divergence against price, indicating improving underlying strength and momentum. +DI (Directional Indicator): Rising and above -DI, reinforcing bullish bias and suggesting buyers are regaining control. Volume: Recent uptick in activity during attempted breakout, yet a strong volume thrust would further validate trend continuation. 🧠 Technical Summary Trend: Recovery underway post correction; momentum building as VCP breakout unfolds. Setup: Price is consolidating above key support after VCP breakout attempt. A decisive close above ₹2,326 is needed for sustained up-move. Trigger Point: Weekly close above ₹2,326 for full bullish confirmation; holding ₹1,885 remains crucial for maintaining the positive setup. 🔎 Conclusion “Netweb Tech India is building constructive price action after a reversal. Confirming strength above ₹2,326 can trigger an uptrend, while defending ₹1,885 keeps the recovery structure intact.” 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned. 🧑💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.