🧪 SMS Pharmaceuticals – Cup-Shaped Recovery With RSI Compression

SMS Pharmaceuticals is showing a clean rounded-bottom / cup-style structure on the daily chart, accompanied by a strong momentum base forming in RSI. Price is also sitting right near a major volume node, making this zone very important. 🔍 Key Technical Observations 1. Large Cup-Shaped Base The entire structure since mid-2024 resembles a rounded bottom, indicating long-term accumulation. Price is now approaching the upper supply zone (₹295–301) which has historically rejected attempts to break higher. 2. Volume Profile (Visible Range) Heavy volume acceptance (Point of Control area) lies exactly at current levels. This makes the zone significant — a break above this area may shift control from sellers to buyers. 3. RSI Symmetrical Triangle RSI is forming a symmetrical triangle, a momentum squeeze pattern. A breakout in RSI often precedes a breakout in price. The RSI is holding above 50, showing underlying strength. 4. Price Riding 30-Day SMA Price continues to stay above the 30-day SMA, suggesting a short-term positive bias. 5. Higher Bottoms on Price Structurally, the stock is forming higher lows, aligning with the broader rounded base. 📝 Summary SMS Pharmaceuticals is at an important inflection point: A large cup-shaped formation, Tight RSI compression, Strong volume cluster acting as resistance, Price holding the 30-day SMA. A confirmed move beyond the upper zone would be meaningful, while failure here would keep it in extended consolidation. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)