Intellect Design Arena Climbs Above Key Descending Resistance

📊 Technical Analysis: Intellect Design Arena (NSE: INTELLECT)
🧠 Chart Pattern: Descending Resistance Line Breakout
The stock has been facing resistance from a descending trendline connecting multiple lower highs from March 2024 until now.

Recently, the price has closed just above this descending resistance line around the ₹1,020–₹1,030 level, indicating a potential breakout.

🚀 Breakout Details (May 15, 2025):
Close: ₹1,025.65

Day’s Move: +₹49.75 (+5.10%)

Volume: 1.88M — above average, supporting the breakout attempt.

📌 Technical Signals:
A break above the descending trendline resistance signals a possible end to the downtrend.

The increase in volume confirms the breakout attempt is backed by strong buying interest.

The stock has shown strong momentum, climbing steadily from lows near ₹600 earlier in 2025.

🎯 Potential Upside Target:
The breakout opens up room for a move towards previous highs around:

Target 1: ₹1,100

Target 2: ₹1,200+ based on earlier resistance peaks.

🛡️ Support Levels:
Immediate support is expected near the breakout zone around ₹1,000–₹1,020.

Holding above this trendline now turned support would validate the breakout.