Granules India Ltd – Technical View
The stock has broken down from a Rising Wedge pattern, which is a bearish reversal structure after an extended up-move. Price slipped below the short-term moving average and tested the lower Bollinger Band, followed by a small rebound. Overall structure suggests trend exhaustion and corrective phase.
🔹 Resistance: ₹590–610
🔹 Support: ₹540 | Major: ₹520
🔹 RSI: ~43–46, weak momentum, no strong bullish divergence yet
🔹 Volume: Elevated selling volume on breakdown, indicating distribution
📈 Bias: Short-term bounce possible, but sustained move above ₹610 is needed to regain bullish structure.
📉 Risk: Breakdown below ₹520 may extend the corrective decline.
📜 SEBI Regd RA | AALGO BREATHS (INH000019886)
⚠️ Educational purpose only. Not a buy/sell recommendation.