Persistent Systems – Testing the Neckline at ₹6,180

The daily chart shows a potential inverted Head & Shoulders forming at the tail end of a larger corrective structure. Price is currently testing the neckline near ₹6,180, which also aligns with the previous Wave 5 top and acts as immediate resistance. While the setup hints at a bullish reversal, the breakout isn’t confirmed yet — a decisive close above ₹6,180 is needed to validate the pattern and open room toward ₹6,500–₹6,600. Until that happens, the move remains a Wave X corrective rally within a broader W–X–Y decline. Momentum is improving as the 50-DMA approaches a crossover with the 100 and 200 DMAs, but bulls still need to prove strength at the neckline.

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.