Wockhardt – Trendline Reclaim With RSI Confirmation Near Key Resistance

1. Price Reclaims Broken Trendline & 30-Week SMA Price has bounced strongly from the long-term ascending trendline (green). It has also moved back above the 30-week SMA, an important trend gauge for medium-term sentiment. 2. RSI & Price Back in Sync Previously RSI was diverging negatively, but now both price and RSI are rising together, showing improving momentum alignment. The RSI has broken its falling trendline (marked in red), which often signals a shift in momentum. 3. Approaching a Major Resistance Zone The ₹1,500–₹1,580 region has acted as a strong supply zone. A breakout here typically requires high volume, which aligns with your note — more volume may appear at this level. 4. Volume Expansion Emerging Recent candles show a noticeable rise in volume, suggesting renewed participation from buyers. This often precedes tests or breaks of higher resistance zones. 5. Structure Remains Constructive Higher timeframe trend remains intact. As long as the price respects the upward trendline and stays above the 30-week SMA, technical structure remains favourable. 📌 Summary View Wockhardt displays a constructive setup backed by: ✔ Trendline support ✔ Reclaim of 30-week SMA ✔ RSI trendline breakout ✔ Increasing volume The chart is entering a critical resistance zone, where price–volume behaviour will determine the next direction. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)