Nitin Spinners — Trendline Reclaim with Momentum Expansion on Weekly Chart

🔍 Technical Analysis 1️⃣ Price Structure & Trendlines: Price has moved out of a declining structure and reclaimed a falling trendline, indicating a shift from compression toward expansion. The latest weekly candle shows strong upward intent after a prolonged sideways phase. 2️⃣ Key Levels: • ₹400–405: Major overhead resistance and prior rejection zone. • ₹370–375: Immediate breakout area now acting as near-term support. • ₹340–345: Previous consolidation base and structural demand zone. • ₹308–310: Long-term rising trendline support. 3️⃣ Moving Averages & Structure: Price is trading back above multiple moving averages, suggesting improving trend alignment after a consolidation phase. The reclaim of these dynamic levels reflects strengthening price structure. 4️⃣ Volume Behaviour: A sharp expansion in weekly volume accompanies the breakout candle, signaling increased market participation and confirming the structural shift visible on price. 5️⃣ RSI & Momentum: RSI has broken above its descending structure and moved toward the 60+ zone, indicating strengthening momentum after a period of compression and range-bound action. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)