Reliance Communications Limited – Weekly Downtrend Compression Near Long-Term Base

Long-term structure remains corrective after a prolonged decline from earlier cycle highs Price is compressed within a falling channel, trading near historical base levels 📉 Price Structure Series of lower highs confirms a dominant downtrend Recent candles show reduced downside momentum as price hugs channel support Long-term horizontal base continues to act as an absorption zone rather than a breakdown point 📐 Trend & Structure Falling channel remains intact; no structural trend reversal yet Price is oscillating near the lower boundary, indicating late-stage decline behavior 📊 RSI Insights RSI is in oversold territory on the weekly timeframe Momentum has flattened, suggesting selling pressure is slowing No bullish crossover yet, but downside momentum is clearly waning 📦 Volume Behavior Volume spikes seen during prior sell-offs, followed by tapering activity Recent weeks show relatively muted volume, typical of consolidation near a base 🧩 Overall Read The chart reflects a mature downtrend transitioning into a compression phase While trend bias remains weak, loss of momentum and base formation signal a potential pause before the next directional move 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)