Pokarna Ltd – Post-Breakdown Reversal Attempt Near Rising Support with RSI Improvement

Long-term uptrend transitioned into a broad rising wedge, followed by a corrective phase. Price recently tested the rising base near ₹745–₹760 and reacted sharply upward. Current move reflects a pullback recovery toward the broken trendline, not a confirmed trend reversal yet. 📐 Key Levels to Watch Immediate Support: ₹745–₹760 (rising trendline + recent swing base) Intermediate Resistance: ₹970–₹990 (previous congestion zone) Major Resistance: ₹1,105–₹1,120 (prior distribution area) Higher Supply Zone: ₹1,280–₹1,350 (upper wedge / earlier rejection zone) 🔄 Momentum & RSI Read RSI has rebounded from the 40–45 support zone and is now approaching 60. This indicates momentum recovery, but RSI is still below prior peak levels. Sustained RSI above 60 would signal improving strength beyond a dead-cat bounce. 📊 Volume Behaviour Noticeable volume expansion on the recent green candle, hinting at short-term demand. Follow-through volume is crucial to validate continuation toward higher resistance zones. 📌 Market Interpretation Structure suggests a technical pullback within a larger corrective phase. As long as price holds above ₹745, downside pressure remains contained. Upside clarity improves only above ₹990–₹1,000, where supply previously dominated. ⚠️ Risk Note Price is still within a post-distribution range; volatility can persist. Failure to hold the rising support may reopen lower consolidation zones. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)