Indian Hotels: Post-Triangle Rally Taking Shape

Chart Insight
Price action has been coiling within a clean contracting triangle, with the recent rebound from ₹708.10 likely marking the E-wave low. The broader structure fits neatly as a possible Wave (4) consolidation within the larger uptrend.

Momentum View
RSI has turned higher from the oversold region, mirroring price stability near the triangle base — an early hint that momentum is rebuilding.

Trade View
As long as ₹708.10 holds, a bullish bounce toward ₹811.95 and possibly ₹894.9 remains favored.
A break below ₹708.10, however, would invalidate this setup and point to a deeper correction.

Bias: Bullish — possible Wave (5) breakout from triangle consolidation
Risk Level: Moderate (tight invalidation)

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.