Suven Life Sciences – Reversal Attempt from Oversold Zone
Timeframe: Daily
After a prolonged downtrend, the stock has shown a sharp bounce from the lower Bollinger Band with a strong bullish candle supported by volume expansion. Currently consolidating near the 20 EMA.
🔎 Technical View:
Price rebounded from ₹125–₹130 support zone
Trading near mid-Bollinger band resistance
Momentum indicator showing bullish crossover
RSI back above 50, indicating strength recovery
🔑 Key Levels:
Immediate Support: ₹150
Major Support: ₹130
Resistance Zone: ₹170–₹176
🚀 Breakout above ₹176 (sustained close) can open upside towards:
₹190
₹205
Structure suggests early-stage recovery, but confirmation comes only after resistance breakout.
⚠️ For educational purposes only. Not a buy/sell recommendation.
— AALGO BREATHS