Puravankara Limited – Falling Channel Consolidation with RSI Divergence Near Key Resistance

Price continues to move within a downward-sloping channel, reflecting a broader corrective phase after the prior uptrend. Recent candles show tight consolidation near the mid-band of the channel, indicating balance between demand and supply. 🧭 Structure & Levels Price is hovering around the ₹250–255 resistance zone, a historically active supply area. The 30-week SMA is flat to mildly downward and closely aligned with current price, acting as a dynamic barrier. Channel support remains intact, keeping price within a defined range rather than breakdown territory. 📊 Momentum & Volume RSI shows bullish divergence, with higher lows on the indicator despite muted price movement — suggesting waning downside momentum. Recent volume expansion during consolidation highlights increased participation, though without price expansion yet. RSI remains below the midline, keeping momentum neutral rather than trending. 🧩 Technical Read The chart reflects a pause within a falling channel, where improving momentum contrasts with overhead resistance. Price structure remains range-bound, with clarity expected only on resolution of this compression. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)