Marksans Pharma – Key Level Reclaimed After False Breakdown

📊 Technical Overview

Timeframe: 1D (Daily)
MARKSANS PHARMA LIMITED

The zone around ₹175–₹180 earlier acted as a strong resistance (multiple rejections in early 2024 to mid-2024).

After breakout this same level flipped into support, confirming a clear demand zone.

Recently, the stock broke below this support, but failed to sustain—a classic false breakdown setup.

Price quickly reclaimed the level with strong volume, showing renewed buying interest and a clean bullish breakout from the order block zone (₹164–₹178).

💡 RSI Divergence

The RSI indicator formed a bullish divergence—price made lower lows while RSI made higher lows.

This confirms a momentum reversal and supports the fresh breakout move.

📈 Trade Setup

Entry: ₹182 (current breakout level)

Stoploss: ₹160 (below the order block)

Target: ₹275+

Risk:Reward: ≈ 1 : 4

⚙️ View
What was once resistance became support, failed to break down, and has now flipped bullish again with strong volume confirmation.
Sustaining above ₹182 could open the path toward ₹250–₹275 levels in the coming weeks.