31/07/2026
A. Ascending Triangle / Resistance Test
Horizontal Resistance (~₹290 – ₹300): The price is testing a major horizontal resistance line drawn right around the ₹290–₹300 zone (previous peak area near ₹299.92).
Ascending Trendline Support: A higher-low trendline (drawn in red underneath) shows consistent buying pressure pushing prices higher over time, creating an Ascending Triangle pattern.
Breakout Setup: The current strong blue candle is pushing right up against the upper boundary. A decisive close above ₹300 would mark a clear breakout to new highs.
B. RSI (Relative Strength Index)
The RSI sits at 65.36, crossing up sharply above its moving average (50.39).
This indicates strong bullish momentum without being excessively overbought (typically >70–80).
C. Volume Analysis
Volume bars below show solid green/blue volume spikes during recent upward moves, signaling institutional interest backing the rally toward resistance.
3. Potential Scenarios to Watch
Bullish Breakout: If the price breaks and holds above ₹300 on high volume, it confirms an ascending triangle breakout, potentially opening up targets around ₹325–₹350.
Pullback / Retest: If resistance at ₹300 holds strong, the price may pull back toward the ascending trendline support around ₹260–₹270 before making another attempt.
(Disclaimer: Technical analysis is for informational purposes only and does not constitute financial advice. Always perform your own research or consult a registered financial advisor before trading.)
