360ONE – Strong Resistance Above, Support Still Holding

In this chart, price has tried multiple times to move above the same upper zone, but each time it failed to sustain there. After these attempts, price came down sharply with large gap-down moves. This clearly shows strong selling pressure and supply at that level.

On the downside, price is still respecting the rising support line. Whenever price moves lower, buyers are stepping in near this support and pushing it back up. So currently, price is trapped between strong resistance above and rising support below.

This puts the stock in a decision phase. Strength will be confirmed only if price is able to move above the resistance and hold there. Until that happens, caution is needed.

This is also a good example of why one should avoid blindly buying near resistance. It is important to understand the price action and the situation on the chart, rather than taking impulsive decisions. Reading how price behaves at key levels always gives better clarity.

I share only selective charts. The focus is on understanding price behaviour, not blind entries. Quality over quantity.