📉 Zen Technologies Ltd. – Symmetrical Triangle Near Apex, Key Support Zone

Zen Technologies is consolidating within a large symmetrical triangle pattern, approaching the apex where a decisive breakout or breakdown move is likely. The structure reflects price compression after a strong rally, with both trendlines converging — suggesting a potential volatility expansion ahead. 🔹 Technical Overview Pattern: Symmetrical Triangle (forming since early 2024) Resistance Trendline: Downsloping from ₹2,400 (red line) Support Trendline: Rising from ₹1,000 (green line) Key Levels: Resistance: ₹1,600–₹1,620 Immediate Support: ₹1,290 Major Support: ₹1,090 RSI: Weak, currently near 42 with a persistent downward trendline — showing momentum compression. OBV: Flat since mid-2024 — accumulation not yet visible. Volume: Declining trend, typical before major directional moves. 🔹 Interpretation ⚙️ The symmetrical triangle indicates a neutral-to-bullish consolidation phase after the previous uptrend. ⚙️ The rising green trendline has held firm through multiple retests, marking a strong structural base. ⚙️ A close above ₹1,600 would confirm breakout, with a measured target near ₹2,000–₹2,100. ⚠️ Breakdown below ₹1,290 could lead to a retest of ₹1,100. 🟢 View Zen Tech remains in a compression zone, with lower highs and higher lows forming a coil. Momentum and volume cues suggest patience before a move, but structure favors an eventual upside breakout if ₹1,290 holds. Watch RSI for an upward breakout confirmation. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)