Indoco Remedies is sitting at a very important point on the monthly chart. Price has respected this long term falling structure for years and now it is again testing the 5 year old resistance near 270-280 after taking a strong reversal from the lower trendline support. What makes this move more interesting is the volume. This month is showing the highest volume seen in almost 20 years which tells us participation has changed completely. Buyers are entering aggressively near a level where sellers controlled the stock for years.
If price breaks this resistance and sustains above the falling trendline the whole structure can shift into a fresh expansion phase. A breakout here can trap long term sellers and attract momentum buyers at the same time because liquidity is sitting above this multi-year resistance. After years of compression one clean monthly breakout can open the door for a much bigger move. This is not just another small resistance test anymore. Volume is already telling us something serious is building here.
If price breaks this resistance and sustains above the falling trendline the whole structure can shift into a fresh expansion phase. A breakout here can trap long term sellers and attract momentum buyers at the same time because liquidity is sitting above this multi-year resistance. After years of compression one clean monthly breakout can open the door for a much bigger move. This is not just another small resistance test anymore. Volume is already telling us something serious is building here.
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