🔎 Current Structure Overview
CMP: ~₹428
Major Resistance Zones: ₹519 → ₹614 → ₹683
Immediate Support: ₹420–₹430 zone
Trend: Medium-term downtrend (lower highs with descending trendline)
Price is currently near a strong horizontal support zone (~₹420–₹430) while trading below a falling trendline.
📊 Bullish Signals Observed
1️⃣ RSI Positive Divergence
RSI forming higher lows
Price forming lower lows
This indicates selling pressure is weakening
RSI near oversold region (~30–35)
➡ Early sign of potential reversal.
2️⃣ MACD Early Stabilization
Histogram shrinking
Momentum turning neutral
Possible bullish crossover forming
➡ Suggests downside momentum is fading.
3️⃣ Strong Historical Demand Zone
₹420–₹430 acted as:
Previous accumulation base
Reaction zone multiple times
Buyers have historically defended this level.
Disclaimer: This is not a recommendation. Please conduct your own research or consult a financial advisor before making any investment decisions.
CMP: ~₹428
Major Resistance Zones: ₹519 → ₹614 → ₹683
Immediate Support: ₹420–₹430 zone
Trend: Medium-term downtrend (lower highs with descending trendline)
Price is currently near a strong horizontal support zone (~₹420–₹430) while trading below a falling trendline.
📊 Bullish Signals Observed
1️⃣ RSI Positive Divergence
RSI forming higher lows
Price forming lower lows
This indicates selling pressure is weakening
RSI near oversold region (~30–35)
➡ Early sign of potential reversal.
2️⃣ MACD Early Stabilization
Histogram shrinking
Momentum turning neutral
Possible bullish crossover forming
➡ Suggests downside momentum is fading.
3️⃣ Strong Historical Demand Zone
₹420–₹430 acted as:
Previous accumulation base
Reaction zone multiple times
Buyers have historically defended this level.
Disclaimer: This is not a recommendation. Please conduct your own research or consult a financial advisor before making any investment decisions.
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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.
Related publications
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.