Pattern Formed: A potential Double Bottom is forming around ₹445 zone – a classic reversal pattern indicating exhaustion of selling pressure.
🔍 Support Zone: ₹443–₹445 has been respected twice — making it a significant demand zone.
📊 Volume: Slight rise in recent candles with green strength, supporting buyers’ return.
📈 RSI Analysis: RSI has crossed above 50 (currently at ~57) — indicating building momentum from oversold region.
🎯 Levels to Watch:
• Immediate Resistance: ₹520
• Breakout Confirmation Above: ₹520–₹530
• Targets Post-Breakout: ₹580 / ₹620
• Invalidation/SL Zone: Below ₹440 on closing basis
💡 Strategy:
🔹 Breakout traders can watch ₹520+ levels with volume confirmation.
🔹 Swing traders may consider entries on retest or pullback post breakout.
⸻
⚠️ Professional Disclaimer:
This analysis is shared purely for educational purposes and is not a buy/sell recommendation.
Please consult your SEBI-registered financial advisor before making any investment decision.
📌 SEBI Research Analyst Registration – In Progress
Finsight Research | #LearnBeforeYouEarn
🔍 Support Zone: ₹443–₹445 has been respected twice — making it a significant demand zone.
📊 Volume: Slight rise in recent candles with green strength, supporting buyers’ return.
📈 RSI Analysis: RSI has crossed above 50 (currently at ~57) — indicating building momentum from oversold region.
🎯 Levels to Watch:
• Immediate Resistance: ₹520
• Breakout Confirmation Above: ₹520–₹530
• Targets Post-Breakout: ₹580 / ₹620
• Invalidation/SL Zone: Below ₹440 on closing basis
💡 Strategy:
🔹 Breakout traders can watch ₹520+ levels with volume confirmation.
🔹 Swing traders may consider entries on retest or pullback post breakout.
⸻
⚠️ Professional Disclaimer:
This analysis is shared purely for educational purposes and is not a buy/sell recommendation.
Please consult your SEBI-registered financial advisor before making any investment decision.
📌 SEBI Research Analyst Registration – In Progress
Finsight Research | #LearnBeforeYouEarn
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.