From Breakdown to Breakout: A V-Shaped Surprise!This chart of Sterlite Technologies (W1) tells a compelling price action story:
📉 The stock initially consolidated at a demand zone, only to break down sharply, flipping that zone into a fresh supply area.
💥 What followed was a strong V-shaped recovery, accompanied by significant volume expansion.
🚀 The reclaimed supply zone was decisively taken out, leading price right into the Active Counter Trendline (CT).
🔁 This Active CT now stands as a key structure; the stock needs to form a higher low near the reclaimed demand zone for structural strength.
⚠️ Ahead, we have two higher-timeframe resistances in sight:
📏 An Inactive Weekly CT (dotted)
📡 The WTF 200 DEMA, a major trend filter
While this is not a call or forecast, the shift in structure, volume, and reclaiming of supply tells a story of possible trend transition — something worth keeping on the radar.
