SPWL — Potential Base Formation After Deep Correction | Early Rebound Signs
CMP: 9.69 | Time Frame: Daily | Risk: Medium–High
Saif Power appears to be stabilizing after completing a prolonged bearish harmonic decline near the 8.0–8.5 demand zone, where price has started forming short-term higher lows. Recent recovery candles suggest early accumulation and a possible trend reversal attempt.
Sustained strength above 9.40–9.60 support band may trigger an upside move toward initial target near 10.70, followed by extended recovery toward 11.80–12.60 zone. A broader bullish continuation could eventually open room for higher structural targets near 15+.
However, failure to hold above 8.80 would weaken the recovery setup and may push the stock back toward major support near 7.00–7.20.
This analysis is for general informational purposes only and does not constitute investment advice.