Patanjali Foods Ltd (NSE: PATANJALI) technical chart breakdown.

28 Mei

Patanjali Chart Structure & Price Action

The stock has been trading within a descending channel, bounded by the blue trendlines.
It recently bounced from a major demand zone (~₹1,698) marked by the green support line that has absorbed liquidity multiple times ("Taken multiple liquidity").
Price is now slowly recovering from this base.

Current Scenario

CMP: ₹1,747
Immediate Resistance:
₹1,783 (horizontal level)
₹1,818–₹1,835 zone (upper boundary of the falling channel)
Break and sustain above ₹1,783–₹1,835 could trigger a trend reversal.

Upside Targets

Target 1: ₹1,830/Target 2: ₹1,904

Previous structural high Target 3: ₹2,011 Recent swing high Total upside from breakout: ~8.76%

Support Levels
₹1,698 – Critical demand zone (green)
₹1,650 – Next strong support
₹1,570 – Long-term support base (green zone)

Simple Explanation
Patanjali Foods rebounded from a high-liquidity support area and is now showing signs of bullish recovery. A breakout above ₹1,783 could take it back to the ₹1,900–₹2,000 range. Risk is well-defined below ₹1,698. Watch for volume and price action confirmation near the upper channel.

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Disclaimer: This post is for educational purposes only and should not be considered a buy/sell recommendation.

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