1. Retest of the Mother Candle Demand Zone
The sharp rally triggered by the new CEO announcement failed to sustain, but the subsequent decline found support almost exactly at the low of the impulsive "mother candle." This successful retest suggests institutional demand remains active, with buyers defending a proven accumulation zone rather than allowing a fresh breakdown.

2. Higher Lows Signal Accumulation
Price has started forming a series of higher lows while repeatedly finding support around ₹670–690, resulting in a developing ascending triangle/base. The inability of bears to push the stock below this demand zone despite multiple attempts indicates selling pressure is gradually getting absorbed.

3. Momentum is Quietly Improving
RSI has recovered from deeply oversold territory and is printing higher lows, indicating strengthening bullish momentum. The RSI has also crossed above its moving average, often an early sign that downside momentum is fading before price confirms a larger reversal.

4. Volume Behaviour Favors Bulls
The strong expansion in volume during the initial rebound, followed by relatively lighter volumes on the pullback, reflects healthy corrective action rather than aggressive distribution. Recent buying interest emerging near support further strengthens the case for gradual accumulation.

5. Retracement Setup Taking Shape
A sustained move above the ₹760–765 supply zone would complete the short-term base and could trigger a broader mean-reversion rally toward higher resistance levels. Until then, the structure remains constructive, with ₹670–690 continuing to be the key risk-management zone.