Stock: Sheela Foam Ltd
Chart Type: Weekly
Current Trend: Reversal from C-wave bottom, after long ABC correction.
Support: Strong base at Fib 0.786 (₹813.20).
Volume: Surge near point C adds confirmation.
RSI: Rising above 50 from oversold — bullish momentum starting.
📊 Resistance Levels:
R1 (₹1040–₹1150): First test of structure
R2 (₹1450–₹1550): Intermediate resistance near channel median
R3 (₹1800+): Major supply zone + Fib retracement + channel top
Chart Type: Weekly
Current Trend: Reversal from C-wave bottom, after long ABC correction.
Support: Strong base at Fib 0.786 (₹813.20).
Volume: Surge near point C adds confirmation.
RSI: Rising above 50 from oversold — bullish momentum starting.
📊 Resistance Levels:
R1 (₹1040–₹1150): First test of structure
R2 (₹1450–₹1550): Intermediate resistance near channel median
R3 (₹1800+): Major supply zone + Fib retracement + channel top
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.