📊 The Indian Hotels Co. Ltd. – RSI Divergence at Key Trendline

🔍 Key Technical Observations: Primary Uptrend Intact: The stock is holding a long-term uptrend since 2023 (green trendline). Multiple successful retests of the trendline confirm strong structural support. Correction Phase: Price has been in a short-term descending triangle or compression zone. Lower highs have formed along the red downtrend line. Strong Base Around ₹695: The ₹694–₹700 zone has provided solid support throughout the recent consolidation. Buyers consistently defended this level. RSI Bullish Divergence: Price made lower lows, but RSI formed higher lows. This positive RSI divergence suggests weakening selling pressure and potential reversal. Volume Behavior: Volume remains stable but has not yet confirmed a breakout. A volume spike will be critical to validate the breakout. Compression Near Breakout Point: Price is now squeezed between the long-term uptrend and the short-term downtrend resistance. This tight setup often leads to sharp directional moves. 📌 What to Watch: 🔑 A decisive breakout above the red downtrend line can trigger a fresh bullish leg. ⚠️ If price fails to breakout, consolidation may continue within the current range. 👉 RSI divergence is a key bullish signal – momentum is gradually shifting despite price pressure. 📢 Disclaimer: This is for informational purposes only. Not a buy/sell recommendation. Positions may or may not be held. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully.