🔩 Suraj Ltd. – Bullish RSI Divergence & Breakout with Volume Indicating Base Formation

Suraj Ltd. is showing early signs of a trend reversal after months of correction and sideways consolidation. The price has broken out above a falling trendline resistance with strong volume, supported by bullish RSI divergence, indicating renewed buying momentum. 🔹 Technical Overview Pattern: Falling wedge breakout on weekly chart. Support Zone: ₹290–₹300 (base support + recent low). Resistance Zone: ₹349–₹358 (immediate resistance zone). RSI: Formed a bullish divergence — higher lows on RSI vs. lower lows on price. Volume: Sharp volume spike confirms breakout strength. Moving Average: Price reclaiming short-term moving average — trend shift underway. 🔹 Interpretation ✅ RSI divergence indicates exhaustion of the downtrend. ✅ Price breakout with volume reinforces strength of the move. ✅ Sustaining above ₹325–₹330 may lead to continuation toward ₹350–₹360 levels. ⚠️ A pullback toward ₹310–₹315 could offer re-entry opportunities. Suraj Ltd. appears to be forming a medium-term base after prolonged weakness. The combination of bullish RSI divergence, breakout confirmation, and strong volume suggests the stock may be entering a new accumulation phase, with potential for a trend reversal. 📢 Disclaimer: For educational purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)