Puravankara Limited: Falling Channel Breakout with RSI Momentum Improvement

The stock has been in a corrective phase forming lower highs within a falling channel. Recent weekly candle shows a strong upward move emerging from a compressed base near prior support, indicating a structural shift in price behaviour. Trendlines & Structure Price has moved above the short-term falling channel while interacting with a long-term declining resistance line. A gently rising support line from earlier lows continues to provide structural balance beneath price. Key Levels (Chart Observations) ₹281–₹283: Immediate reaction zone where price is currently positioned. ₹260–₹262: Important horizontal pivot area visible across multiple swings. ₹324: Broader overhead resistance formed by prior highs. ₹237–₹250: Historical support band from recent consolidation. Momentum (RSI) Weekly RSI has moved upward from lower levels, reflecting strengthening momentum after a prolonged sideways phase. RSI structure shows improvement while price was stabilising, indicating internal strength. Volume Behaviour Recent breakout candle is supported by noticeable volume expansion compared to previous weeks, highlighting increased participation. Observation The chart shows price attempting to transition out of a declining structure, supported by improving momentum and higher activity while approaching an important overhead zone. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)