New Delhi Television (NDTV) – Base Formation With Bullish RSI Divergence After Prolonged Downtrend

1. Long-Term Downtrend Still Intact, But Pressure Is Reducing NDTV has been in a prolonged downtrend marked by a falling trendline from the major peak. However, recent price action shows that downside momentum is slowing near a well-defined support zone. 2. Strong Support Zone Holding Price has repeatedly respected the horizontal support area around the lower band, indicating strong demand absorption. Multiple weekly closes near this zone suggest sellers are losing dominance. 3. Bullish RSI Divergence Emerging RSI has formed a clear bullish divergence — while price made lower or equal lows, RSI printed higher lows. This is a classic early signal that selling momentum is weakening and a base may be forming. 4. High Volume at Lows Signals Participation Recent candles show increased volume near support, indicating active participation rather than a lack of interest. Such volume behavior at lows often precedes meaningful directional moves. 5. Consolidation Phase Developing Price is moving sideways after a sharp decline, forming a tight consolidation band. This behavior often acts as a pause before the next directional expansion, especially when supported by momentum divergence. 6. Structure to Watch Going Forward Support holding consistently RSI attempting to move out of oversold-to-neutral range Compression between support and falling trendline Overall, NDTV appears to be in an early base-building phase. Momentum indicators hint at a potential trend shift, but confirmation will depend on how price reacts around the falling trendline and whether RSI strength continues to improve. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)