Tribhovandas Bhimji Zaveri Ltd – Support Bounce With Divergence Setup

Market Structure Overview: Price has bounced from a key ascending support trendline, supported by a notable volume spike. A falling channel is in place on the price chart, but RSI shows sideways consolidation, forming a bullish divergence. Volume on the recent bounce is highest in months, potentially marking a shift in sentiment. Momentum Observation: RSI remains trapped below 55 but is attempting to break out of a horizontal consolidation. Price action has rebounded sharply within the channel; a move above ₹200 would confirm a breakout. Outlook Insight: This setup suggests a possible reversal in progress. However, confirmation would require: Breakout from falling price channel RSI crossing above 55–60 zone Sustained volume follow-through 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)