Sandesh Limited – Pullback Within Rising Structure, RSI Attempting Base

Price Structure Overview Price has corrected from the ₹1,900+ peak and is now trading below the falling red trendline. Structure still shows a broader rising channel, with price currently resting near the lower channel support. Recent candles indicate support-based stabilization after the decline. 📊 Key Levels to Watch Immediate Support: ₹975–₹1,000 (prior swing low + channel support) Major Support: ₹900–₹925 (breakdown risk increases below this zone) Immediate Resistance: ₹1,120–₹1,150 Higher Resistance: ₹1,230–₹1,250 (previous supply zone) 🔄 Momentum & RSI Insight RSI has rebounded from oversold territory and is forming higher lows, indicating early momentum repair. RSI still remains below 60, suggesting recovery is not yet trend-confirmed. Sustained RSI above 55–60 would strengthen the bullish case. 📈 Volume Observation Volume expanded near recent lows, hinting at demand absorption rather than aggressive distribution. Follow-through volume on up-moves is required for confirmation. 📌 What to Monitor Holding above ₹975 keeps the structure constructive. Break above ₹1,150 with improving RSI would signal trend resumption. Failure below ₹900 would weaken the broader rising setup. ⚠️ Risk Note Price remains below a key descending trendline; consolidation or whipsaws are possible before clarity emerges. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)