“PRAJIND | Double Bottom Formation & RSI Reversal | Breakout

Pattern Formed: A potential Double Bottom is forming around ₹445 zone – a classic reversal pattern indicating exhaustion of selling pressure.

🔍 Support Zone: ₹443–₹445 has been respected twice — making it a significant demand zone.

📊 Volume: Slight rise in recent candles with green strength, supporting buyers’ return.

📈 RSI Analysis: RSI has crossed above 50 (currently at ~57) — indicating building momentum from oversold region.

🎯 Levels to Watch:
• Immediate Resistance: ₹520
• Breakout Confirmation Above: ₹520–₹530
• Targets Post-Breakout: ₹580 / ₹620
• Invalidation/SL Zone: Below ₹440 on closing basis

💡 Strategy:
🔹 Breakout traders can watch ₹520+ levels with volume confirmation.
🔹 Swing traders may consider entries on retest or pullback post breakout.

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⚠️ Professional Disclaimer:

This analysis is shared purely for educational purposes and is not a buy/sell recommendation.
Please consult your SEBI-registered financial advisor before making any investment decision.

📌 SEBI Research Analyst Registration – In Progress

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