INDIAN RENEWABLE ENERGY (Weekly Chart)_What Next ??

Trend line Resistance:
The price is approaching a descending trend line resistance drawn from the July 2024 highs. It is currently testing this line, indicating a crucial breakout or rejection zone.

Immediate Resistance Levels:

₹181.50 (horizontal resistance)

₹187.63 (minor supply zone)

₹200.00 (psychological round level)

₹209.52 and ₹214.47 (major resistance clusters)

Support Zone:

₹165.00 is acting as near-term support.

Below that, ₹150 and ₹137 are major support areas.

Price Action:
The stock is forming higher lows since March 2025, indicating bullish momentum. However, it must break and sustain above ₹181.50–₹187.63 for confirmation of a bullish reversal.

Outlook:

Bullish if price closes above ₹187.63 on a weekly basis.

Bearish if rejected at trendline and falls below ₹165.

Conclusion:
Watch for a breakout above ₹181.50–₹187.63 for a potential rally toward ₹200–₹214. A rejection here may lead to consolidation or a dip back to support levels.