Near ATH, testing a 20-year trendline — worth studying.
- Price is trading inside a long-term rising wedge.
- The upper trendline has acted as resistance multiple times (2007, 2011, 2022, and now).
- Currently consolidating in a tight range near ATH (~₹775).
- Volume needs improvement — a decisive breakout above resistance should ideally come with strong volume confirmation.
⚠️ Risks / Watch-outs:
Rising wedge patterns can also resolve downwards if breakout fails.
Repeated rejections from the same long-term trendline may trigger profit-taking.
Without big volume, any breakout attempt may not sustain.
💡 Learning Point: Long-term trendlines and volume behavior are crucial in studying potential breakouts vs. failed attempts.
⚠️ Disclaimer: This post is for educational purposes only. It is not a buy/sell recommendation or financial advice. Please do your own research or consult a SEBI-registered advisor before making investment decisions.
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