Data Patterns (India) Ltd – Strong Recovery After Sharp Correction (Daily Chart)
After a steep sell-off, the stock has shown a sharp V-shaped recovery and is now trading near a crucial resistance cluster.
🔎 Technical Observations:
Strong bounce from ₹2,200–₹2,250 demand zone
Price reclaiming 20 & 50 EMA
Higher highs & higher lows forming (short-term uptrend)
Bollinger Bands expanding (volatility expansion)
RSI moving into bullish zone (above 60)
Momentum indicator showing strong positive crossover
Volume expansion during breakout candles
🔑 Key Levels to Watch:
Immediate Resistance: ₹2,950–₹3,000
Major Resistance: ₹3,100–₹3,250
Immediate Support: ₹2,775
Major Support: ₹2,600–₹2,450
📈 Bullish Scenario:
Sustained close above ₹3,000 can trigger further upside towards:
₹3,100
₹3,250
₹3,400+
⚠️ Caution:
Failure to sustain above ₹2,775 may lead to consolidation or pullback toward ₹2,600 zone.
Structure currently favors bulls unless key support breaks.
⚠️ Not a buy/sell recommendation.
— AALGO BREATHS