Zuari Agrochemicals: Channel Re-Entry with Momentum Watch — RSI Must Clear 60 for Trend Confirmation

1. Long-Term Ascending Channel Intact Price continues to move within a well-established rising channel that has guided the stock for several years. The recent pullback respected the lower boundary of the channel, confirming that long-term trend support remains intact. This bounce keeps the broader bullish structure healthy. 2. Resistance Cluster Near 275–300 The zone between ₹275 and ₹300 is a major supply area where multiple rejections have occurred. Price is again approaching this region, and strength above this level is crucial for a sustained uptrend continuation. A weekly close above ₹300 would validate a strong breakout from the congestion zone. 3. RSI Needs to Clear 60 for Momentum Confirmation RSI is rising but has not yet decisively broken above the 60 level, which historically marks strong trending phases for this stock. A clean RSI breakout above 60 would signal renewed bullish momentum and increase the probability of an upside continuation toward the upper channel line. 4. Volume Expansion Yet to Confirm Breakout Volume has improved but still lacks the strong expansion typically required for a confirmed breakout. A volume spike near or above ₹300 would indicate institutional participation and reinforce the bullish narrative. 5. Structure Turning Constructive Channel support respected Higher-low structure visible RSI improving steadily Price stabilizing above key support levels Overall, Zuari Agro Chemicals shows a constructive medium-term setup, but confirmation will come only when RSI strengthens above 60 and price closes decisively above 300. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)