⚙️ Sagardeep Alloys Ltd. – Symmetrical Triangle Setup Forming

🔹 Price Action CMP: ₹30.36 (+13.54%). Price rebounded sharply from long-term trendline support near ₹25 with strong bullish candle. Currently approaching upper resistance zone around ₹34. 🔹 Technical Observations Pattern: Symmetrical Triangle — higher lows, lower highs converging toward breakout point. Volume: Noticeable uptick this week, signaling renewed interest near support. RSI: Rising from 40 levels, currently ~55, but still below trendline resistance — early signs of momentum buildup. OBV: Gradually improving, suggesting accumulation at lower levels. Structure: Multi-quarter consolidation between ₹25–₹35 forming a base. 🔹 Key Levels Immediate Resistance: ₹32–₹35. Major Resistance: ₹37–₹38 (breakout confirmation zone). Immediate Support: ₹28. Major Support: ₹25. 🔹 Strength & Risk ✅ Reversal from strong multi-touch trendline with volume support. ✅ RSI recovery and price structure show base formation. ❌ Repeated rejections near ₹34–₹35 may act as supply pressure. ❌ Needs breakout confirmation with closing above ₹35 on volume. 🔹 Outlook Short Term: Range-bound between ₹28–₹35; breakout above ₹35 may trigger rally to ₹42+. Medium Term: Sustained move above ₹38 can open path toward ₹50 zone. Risk: Breakdown below ₹25 will invalidate setup. 📌 Strategy Traders: Watch for volume breakout above ₹35 for entry; partial profit near ₹42–₹45. Investors: Accumulate near ₹26–₹28 with SL below ₹24 for potential medium-term uptrend. 📢 Disclaimer: This is educational analysis, not investment advice. 🧑‍💼 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332).