GMDC – 4H Technical View
The stock is showing range-bound recovery after forming a higher low structure, but it is still trading below a major descending trendline, which is acting as strong resistance.
🔍 Technical Observations:
Price bounced from higher low, indicating short-term strength
Still below long-term downward trendline → trend not reversed yet
Momentum indicators improving but not fully bullish
RSI near 55–58, neutral-to-positive zone
Volume is average, no strong breakout confirmation yet
🔑 Key Levels:
Immediate Support: ₹560 – ₹545
Resistance: ₹610 – ₹620 (trendline zone)
Upside Target (only on breakout): ₹670 – ₹690
📈 Outlook:
As long as GMDC trades below ₹620, the move remains pullback within a broader range.
A sustained breakout above the trendline with volume can trigger fresh upside momentum.
Failure to hold ₹560 may bring consolidation or mild downside.
⚠️ Educational view only. Not a buy/sell recommendation.
— AALGO BREATHS