Precot Ltd – Pullback Within Broader Uptrend, RSI Showing Positive Divergence

🔎 Price Structure Overview Strong prior uptrend followed by a corrective phase from the ₹640–₹650 zone. Recent rebound from the lower channel / support zone indicates demand returning near trendline support. Price is currently retracing within the broader structure, still below the falling resistance line. 📐 Key Levels to Watch Immediate Support: ₹380–₹400 zone (recent swing low + demand area) Major Support: ₹300–₹320 (long-term base / breakdown level) Near Resistance: ₹480–₹500 (Fibonacci 0.5–0.618 overlap) Major Resistance: ₹540–₹560 (previous supply + horizontal resistance) 🔄 Momentum & RSI RSI has formed bullish divergence: higher lows on RSI while price made lower lows. RSI has moved back above ~45, suggesting selling pressure is easing. Sustained move above RSI 55–60 would indicate improving momentum. 📊 Volume Insight Recent bullish candle accompanied by noticeable volume expansion. Volume behavior suggests short-covering and early accumulation near support. 📌 Interpretation Structure suggests a pullback within a larger trend, not a full trend reversal yet. Price needs to reclaim ₹480–₹500 decisively to shift bias back to upside continuation. Failure to hold above ₹380 could reopen downside risk toward ₹300. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)