Action Construction and Equipments

🧠 Key Observations:
1. Current Price: ₹1,118.90

The stock is up ₹6.20 (+0.56%) as per the last candle.

It's just above a critical support zone and forming a possible trend reversal pattern.

📊 Chart Structure:
🔹 Trendlines:

Short-Term Trend: A downward sloping resistance line.

Long-Term Trend: Also downward but less steep — showing a broader descending triangle or wedge.

🔹 Support Zone:

Clearly marked "Monthly FVG (Fair Value Gap) in Discount Zone".

This area has provided a strong demand zone previously.

Price bounced after touching this zone.

🔹 Volume Analysis:

Big Volume Bar at the bottom of the correction — indicates institutional activity or strong buyer interest at the lows.

📈 Pattern & Price Action:
✅ Bullish Factors:

Price bounced off a long-term support zone with high volume.

Broke out of a minor short-term resistance.

May be forming a higher low, suggesting early signs of reversal.

⚠️ Resistance Ahead:

Around ₹1,200–₹1,250: Horizontal resistance and prior swing highs.

Short-term and long-term trendlines will act as supply zones.

📌 What to Watch:
Level/Zone Significance
₹950–₹1,000 Monthly FVG support zone — strong demand
₹1,200–₹1,250 Immediate resistance zone
₹1,400–₹1,500 Break above long-term trend could trigger rally
₹850 Breakdown below this invalidates bullish structure
🔮 Possible Scenarios:
📈 Bullish Case:

Breakout above short-term trendline + retest → rally towards ₹1,400+

Volume support confirms breakout strength.

📉 Bearish Case:

Rejection from ₹1,200 zone.

Breakdown below ₹1,000 support → retest of ₹850 or lower.

✅ Technical Conclusion:

The stock is in a potential reversal zone after a long correction.

Volume confirmation and structural support suggest accumulation phase.

A breakout above the short-term trendline could initiate a medium-term uptrend.