🔹 Price Action The stock witnessed a sharp surge from the ₹40 zone to ₹55, backed by a strong increase in volume. However, after touching the ₹54.80 resistance zone, it faced rejection and slipped back to around ₹48.80. Price is still trading below the falling trendline resistance, which makes this a make-or-break level. 🔹 Key Levels Immediate Resistance: ₹54.80 (recent rejection & trendline resistance) Immediate Support: ₹46.30 (green support zone) Major Support: ₹40.00 (recent bottom) 🔹 Indicators & Volume Action RSI: Spiked above 70 briefly (overbought zone) but has cooled off; currently near 64, suggesting momentum is stretched. Volume: Strong accumulation noted in the last few sessions, confirming buyer interest. 🔹 Outlook Sustaining above ₹54.80 with follow-up volume could confirm a trend reversal and open the path toward ₹60+ levels. On the downside, if price falls below ₹46.30, weakness could drag it back to ₹40. ✅ Trading View Bias: Neutral-to-bullish in short term. Trigger: Breakout confirmation only above ₹54.80. 📢 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.

#TechnicalViews

486 likes·87 comments