Saregama India – Falling Wedge Breakout
Timeframe: Daily
After a prolonged downtrend, the stock has formed a falling wedge pattern and now shows a strong bullish breakout with volume expansion.
🔎 Technical Highlights:
Clear falling wedge formation (bullish reversal pattern)
Strong breakout candle with momentum
Bounce from ₹315–₹320 demand zone
Price reclaiming 20 EMA
RSI moving above 50 → momentum shifting bullish
🔑 Key Levels:
Immediate Support: ₹335
Major Support: ₹320
Resistance Zone: ₹370–₹390
🚀 Sustained move above ₹360–₹370 can open upside towards:
₹380
₹400
Volume confirmation suggests strength, but follow-through above resistance is important.
⚠️ For educational purposes only. Not a buy/sell recommendation.
— AALGO BREATHS