Market Structure
The stock is in a long-term downtrend, marked by a clearly defined descending trendline (lower highs).
Price is currently consolidating around ₹1,350–1,400, indicating compression before a directional move.
Key Price Zones
Major Support: ₹1,000–1,100 (strong demand zone, previous base)
Immediate Support: ₹1,300–1,350
Major Resistance: ₹2,450–2,600 (strong supply zone, multiple rejections in the past)
Trend Bias
Neutral to Bullish, but only after a confirmed weekly close above the descending trendline.
A successful breakout can shift the structure from lower highs to higher highs and higher lows
Bullish Scenario
Break and sustain above the trendline with good volume:
Upside targets: ₹1,900 → ₹2,200 → ₹2,500–2,600
A pullback and hold above the broken trendline would add strength to the bullish case.
Bearish Scenario / Risk
Failure to break the trendline and a decisive breakdown below ₹1,300:
Price may move back toward ₹1,100–1,000 support zone.
Key Confirmations to Watch
Weekly candle close above the descending trendline
Increase in volume during breakout
Higher low formation after breakout
Disclaimer
This analysis is for educational purposes only and should not be considered financial or investment advice.
The stock is in a long-term downtrend, marked by a clearly defined descending trendline (lower highs).
Price is currently consolidating around ₹1,350–1,400, indicating compression before a directional move.
Key Price Zones
Major Support: ₹1,000–1,100 (strong demand zone, previous base)
Immediate Support: ₹1,300–1,350
Major Resistance: ₹2,450–2,600 (strong supply zone, multiple rejections in the past)
Trend Bias
Neutral to Bullish, but only after a confirmed weekly close above the descending trendline.
A successful breakout can shift the structure from lower highs to higher highs and higher lows
Bullish Scenario
Break and sustain above the trendline with good volume:
Upside targets: ₹1,900 → ₹2,200 → ₹2,500–2,600
A pullback and hold above the broken trendline would add strength to the bullish case.
Bearish Scenario / Risk
Failure to break the trendline and a decisive breakdown below ₹1,300:
Price may move back toward ₹1,100–1,000 support zone.
Key Confirmations to Watch
Weekly candle close above the descending trendline
Increase in volume during breakout
Higher low formation after breakout
Disclaimer
This analysis is for educational purposes only and should not be considered financial or investment advice.
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