Radhika Jeweltech Ltd – Possible Double Bottom With Breakout Setup Emerging

The stock has been consolidating in a broad range, finding consistent support around the ₹71 zone. This level has been tested twice over the past several months, giving rise to a potential double bottom pattern, which is typically considered a bullish reversal formation. Currently, the stock has shown a sharp rebound off this support with strong bullish momentum and a nearly 10% weekly gain, indicating increased buying interest. 📈 Trendline Resistance & Key Price Levels Price is now approaching a downward sloping trendline that has capped rallies since the all-time high near ₹150. A weekly close above ₹92.5 would mark a breakout from this falling trendline. For clear trend confirmation, the price must cross and sustain above ₹100.65, which aligns with horizontal resistance and past supply zone. 💡 RSI & Volume Dynamics RSI has bounced off the lower 40s and is now around 47, suggesting improving momentum. A decisive RSI breakout above 50 would confirm bullish strength and support further upside. Volume in the current week is elevated (12.46M), confirming buyer interest and potentially supporting a breakout attempt. 📍 Crucial Levels to Watch Support: ₹71 Interim Resistance: ₹92.5 Major Breakout Zone: ₹100–101 Target if breakout sustains: ₹118 – ₹130 (based on previous structure) 🧩 Conclusion The chart is shaping up for a potential trend reversal, but confirmation lies in a breakout above the falling trendline and eventually ₹100. Traders should monitor for price-volume follow-through and RSI crossover above 50 for added confidence. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)