Data Patterns (India) Ltd – Technical View
After forming a short-term top, the stock witnessed a sharp decline and is now moving inside a Rising Wedge, which is generally a bearish continuation pattern in a broader downtrend. Price is hovering near the 20-DMA, but remains below the major falling trendline, indicating supply at higher levels.
🔹 Resistance: ₹2750–2780 (trendline & EMA zone)
🔹 Support: ₹2650 | Major: ₹2550
🔹 RSI: 55–57, showing recovery but facing resistance
🔹 Volume: Lacks strong breakout confirmation
📉 Bias: Sell on rise unless a decisive breakout occurs.
📉 A breakdown below ₹2650 may lead to further downside towards ₹2400–2350.
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