Technical Analysis: Price Action & Trend

Technical Analysis:
Price Action & Trend:
The stock has been in a downtrend within a falling wedge or descending channel.
It is currently testing a key support level near S1/S2 pivot points.
If it breaks above the channel, it could signal a trend reversal.

Fibonacci & Pivot Levels:
Key support levels: S1 (~108.21), S2 (~90.04).
Resistance levels: R1 (~111.10), R2 (~170.78).
A potential upside target is around R2 (170.78 INR).

Risk-Reward Ratio:
The target is set at 170.78 INR, which represents 53.72% potential upside.
The stop-loss is set at 90.04 INR, a downside of 18.96%.
The Risk/Reward ratio is 2.83, which is favorable.

MACD Indicator:
The MACD crossover looks weak, but any bullish divergence could confirm a reversal.
Currently, the blue MACD line is below the orange signal line, which suggests bearish momentum.
If MACD starts crossing above the signal line, it will confirm a buy signal.

Prediction & Conclusion:
If 108 INR holds as strong support, and the price breaks above the falling wedge, we could see a bullish breakout towards 170 INR.

If it fails to hold, the next major support is around 90 INR.

A buy signal will be confirmed if there is a breakout with strong volume.