Turning Point? Bottom formation visible after long consolidation
Vodafone Idea (IDEA) has spent several years in a broad accumulation zone, building a strong multi-year base structure. Recent weekly price action shows rising momentum, improving RSI, and potential early signs of structural reversal.
Price currently trades around ₹10.80, holding above key trendline support.
📍 Key Support Levels
| Support | Importance |
|---|---|
| ₹5.70 | Major structural support / accumulation base |
| ₹4.00 | Secondary support zone |
| ₹2.40–₹2.30 | Long-term bottom & invalidation zone |
As long as ₹5.70 / ₹4 / ₹2.30 holds, the bullish view remains intact.
🎯 Upside Target Levels
| Target | Significance |
|---|---|
| ₹16.00 | First resistance / breakout trigger |
| ₹19.00 | Major supply zone |
| ₹25.00 | Large breakout above long channel resistance |
| ₹34.00 | Wave 3 / C projection |
| ₹46.00 | Macro resistance |
| ₹55.00 / ₹64.00 | Ultimate long-term targets |
A breakout above ₹16–₹19 could accelerate momentum significantly.
📈 Technical & Wave Structure
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WAVE Count suggests Wave 3 start is possible
-
Multi-year accumulation range between ₹3–₹12 nearly completed
-
RSI improving above 60 suggests bullish strength building
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Price consistently holding above trendline since 2023 bottom
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Tight base breakout pattern, low-risk accumulation opportunity
🧠 My View
As long as price stays above ₹5.70 / ₹4 / ₹2.30, IDEA has strong chances to move towards:
₹16 → ₹19 → ₹25 → ₹34 → ₹46 → ₹55 → ₹64+
Long-term investors may accumulate on dips and trend traders watch for breakout above ₹16–₹19.
⚠️ Risk Note
Below ₹5.70 – short-term weakness
Below ₹2.30 – long-term bullish structure invalid
💬 What is your view?
Expecting Breakout above ₹16 soon or more consolidation first?
Comment “Breakout” if bullish or “Consolidation” if not sure.
📌 Disclaimer
Purely educational technical analysis. Not investment advice.
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