RattanIndia Power: Short-Term Bounce Within Larger Correction

After an extended five-wave decline from the ₹16.92 peak, RattanIndia Power appears to have completed a smaller-degree Wave (a) near the support cluster around ₹11. The substructure shows a clean 1-2-3-4-5 sequence, with Wave 4 forming a contracting triangle and Wave 5 bottoming right into the green support zone.

Momentum Check
RSI has registered a clear bullish divergence, suggesting that downside momentum is fading and a short-term recovery in Wave (b) could unfold soon. Initial resistance sits near the ₹13.50–₹14.50 band — the previous supply and resistance cluster.

Bigger Picture
Despite this potential bounce, the higher-degree outlook remains corrective and bearish, with a subsequent Wave (c) decline likely to test or undercut the ₹9–₹9.50 region before the larger corrective pattern (A-B-C) completes.

In short: a short-term bounce may be in play, but the broader down-cycle is not yet over.

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.