🔹 Price Action The stock closed at ₹309.95 (+1.97%), consolidating within a sideways channel (₹283 – ₹335) for several months. The structure suggests accumulation with strong supports holding. A decisive breakout above ₹335 can open the next bullish leg. 🔹 Technical View Support Levels: ₹283 → ₹247 Resistance Levels: ₹335 → ₹370 → ₹400 Patterns: Price in a sideways channel (blue box). Multiple rejections near ₹335, making it a crucial breakout level. Overall trend still intact above ₹283 support. 🔹 Indicators RSI (52.77) showing bullish divergence, turning upward from higher lows. OBV (On Balance Volume) also showing bullish divergence, hinting at accumulation despite price consolidation. Volume steady, awaiting a breakout confirmation. 🔹 Strength & Weakness ✅ Bullish RSI & OBV divergences – early signs of strength. ✅ Long-term uptrend support intact. ⚠️ Price still capped below ₹335 resistance – needs breakout for momentum. ⚠️ Below ₹283, weakness may resume. 🔹 Outlook Short term: Expect range-bound move between ₹283–₹335. Medium term: Breakout above ₹335 → rally towards ₹370–₹400. Risk management: Keep watch on ₹283 as a key support. 📢 Disclaimer: Educational analysis only, not investment advice. 🧑‍💼 Rajneesh Sharma – SEBI Registered Research Analyst (Reg. No. INH000020332). 📄 Stock market investments are subject to market risks.

#TechnicalViews#WatchOutFor

465 likes·3 comments