Jana SFB- Trendline Breakout + Base Formed –

Fibonacci Extension Levels:

1.0 = ₹365.75 (key breakout base)

1.618 = ₹1,011.95 (potential target)

Horizontal Support: Around ₹365–₹370 (marked by prior structure & 1.0 Fib level)

Descending Trendline: Broken recently — this breakout indicates short-term reversal from downtrend.

Volume Spike: Circled area indicates high volume + price bounce = potential reversal confirmation.

Recent High: ₹495.35

Current Price: ₹486.75

🧠 Technical Observations:
Trend Shift:

Price has broken above a falling trendline and is now consolidating sideways above former resistance.

This suggests accumulation after a breakout.

Support Zones:

₹365–₹370 (Fibonacci 1.0 level + previous bottom) — very strong base support.

₹445–₹455 (recent consolidation zone) — short-term support.

Target Zones (Based on Fib Extension):

Mid-term: ₹565 (horizontal resistance)

Long-term: ₹760 (swing high)

Fib 1.618 target: ₹1,011.95 — optimistic projection, only valid in case of a strong trending move.

📉 RSI Analysis:
Current RSI: 45.87 — weak, slightly bearish bias.

RSI-based MA: 52.44 — RSI is below average, indicating loss of recent momentum.

However, no bearish divergence seen.

📌 Summary:
Trend: Shifted from downtrend to base-building and sideways consolidation.

Breakout Confirmation: Seen with volume near the circled support, followed by gradual up-move.

Current Phase: Likely accumulation/consolidation before the next move.

Trigger Levels:

Break above ₹500 could reignite bullish momentum.

Hold above ₹445–₹455 is crucial to sustain structure.