Nuvoco Vistas – Support Trendline Bounce With RSI Warning Signals

1. Bounce From Long-Term Support Trendline Price has taken support near the rising long-term trendline, indicating buyers are active around this structural support area. This zone has historically acted as a demand region, and the recent reaction confirms its relevance. 2. Confluence of Multiple Support Levels The current bounce is occurring near an important horizontal support band along with the rising trendline, creating a strong confluence zone. Such areas often attract short-term buying interest. 3. Bearish RSI Divergence Still in Play Despite the price bounce, RSI shows a bearish divergence from prior highs. This suggests that momentum has weakened compared to earlier rallies, and upside strength may be limited unless RSI improves decisively. 4. RSI Below Neutral Zone RSI remains below the 50 mark, highlighting that the broader momentum structure is still cautious. For a sustainable upside move, RSI strength would need to reclaim higher ground. 5. Structure Suggests Range-Bound Bias Support-driven bounce confirmed Momentum indicators not fully aligned Price still facing overhead supply zones Overall, the chart reflects a technical bounce from support, but the bearish RSI divergence calls for caution. Follow-through strength and momentum confirmation will be critical to determine whether this move evolves into a broader trend reversal or remains a short-lived recovery. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)