Trent Limited is trading within a rising parallel channel on the 4-hour log-scale chart, suggesting the broader structure remains bullish. The recent rebound from ₹2,545.8 indicates buying interest near the lower channel boundary, with the current price around ₹2,826.1.
The immediate resistance lies near ₹3,000, and a sustained breakout above this level could strengthen the recovery. If bullish momentum continues, the price may move toward the previous high of ₹3,399.7, although resistance along the way could slow the advance.
The projected Elliott Wave structure suggests a possible upward move toward ₹3,763.6, aligning with the upper channel boundary and the Wave C target. However, this remains a bullish scenario rather than a confirmed outcome. A failure to sustain the rebound could lead to renewed weakness, so price action around ₹3,000 will be important to watch.
By BrightRally_Research
The immediate resistance lies near ₹3,000, and a sustained breakout above this level could strengthen the recovery. If bullish momentum continues, the price may move toward the previous high of ₹3,399.7, although resistance along the way could slow the advance.
The projected Elliott Wave structure suggests a possible upward move toward ₹3,763.6, aligning with the upper channel boundary and the Wave C target. However, this remains a bullish scenario rather than a confirmed outcome. A failure to sustain the rebound could lead to renewed weakness, so price action around ₹3,000 will be important to watch.
By BrightRally_Research
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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.