Pansari Developers Ltd- Rising Structure Testing Major Resistance with RSI Divergence

1. Price Structure Price is moving in a strong rising structure with clear higher highs and higher lows from mid-2024 onward. Recent candles show tight consolidation just below the ₹312 resistance zone after a sharp advance. 2. Trendlines A rising trendline from the base continues to act as dynamic support, while an upper ascending resistance line highlights price reacting near the top of the structure. The current move is pressing against this upper boundary. 3. Key Levels (Chart Observations) Major Resistance: ₹312–₹315 zone where price is currently reacting. Intermediate Level: ₹279–₹280 acting as a horizontal pivot seen multiple times on the chart. Rising Support: Ascending trendline from recent higher lows supporting the structure. 4. Momentum (RSI) Weekly RSI remains elevated but is flattening near resistance. Price has pushed higher while RSI has moved sideways, showing momentum losing acceleration near the top zone. 5. RSI Structure A visible bearish divergence is forming as price makes higher highs but RSI fails to confirm with new highs, reflecting weakening momentum strength. 6. Volume Behaviour Volume expanded during the earlier rally phases, while recent weeks near resistance show relatively stable participation without aggressive spikes. 7. Overall Observation The chart shows price compressing below a key resistance band with a strong underlying trend still intact, while RSI divergence highlights slowing momentum near the upper boundary. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)