📊 Nuvama Wealth Management – Recovery from Falling Wedge Pattern
The stock is showing early signs of recovery after a prolonged downtrend and a falling wedge structure.
🔎 Technical Observations:
• Prior strong downtrend with lower highs & lower lows
• Formation of a falling wedge pattern (reversal setup)
• Strong bullish candle with volume expansion
• Price bouncing from demand zone
• Momentum indicators turning positive
🔑 Key Levels to Watch:
• Immediate Support: ₹1180 – ₹1210
• Major Support: ₹1100 – ₹1050
• Immediate Resistance: ₹1265 – ₹1305
🚀 Upside Targets:
• ₹1345
• ₹1430
• ₹1475+
📉 Risk Scenario:
Breakdown below ₹1180 may invalidate the recovery and lead to further downside towards ₹1100
📈 Trading View:
👉 Stock is in early reversal phase after downtrend
👉 Breakout above ₹1265 can confirm bullish momentum
👉 Strong move possible if resistance is cleared with volume
⚠️ For educational purposes only. Not a buy/sell recommendation.
— AALGO BREATHS 📊