Trend- Mild bullish but currently in a pullback phase after a sharp breakout. Price taking support near short-term demand. Support & Resistance- Major Resistance (Fresh Breakout Level): ₹186.90 Immediate Resistance: ₹176.65 Immediate Support: ₹170.05 Major Support: ₹166.10 Strong Base: ₹152.85 Chart Behaviour- Price broke out above ₹176–186 zone but failed to sustain and corrected. Still forming higher lows structurally; buyers active above ₹166 levels. As long as ₹166 holds, the broader trend is positive. Expected Move- Upside: Bounce possible toward ₹176 → ₹186 again. Downside: Breakdown below ₹166 may extend fall to ₹152. Fundamentals (Short)- Strong steel demand recovery Improving spreads Deleveraging continues Global steel price volatility remains a risk Final Verdict- ✅ Bullish above ₹176 ⚠️ Avoid if closes below ₹166

#TechnicalViews#FundamentalViews

591 likes·78 comments