Falling Channel Pattern in Indian Overseas Bank

📉 IOB (Indian Overseas Bank) - Falling Channel Setup
🔍 Daily Chart Analysis – June 26, 2025

IOB has been trading within a well-defined falling channel since early 2024. Price is currently testing the upper boundary of the channel but hasn’t confirmed a breakout yet.

🔑 Key Observations:

Structure: Clearly respecting the falling channel.

Moving Averages: Price is hovering around short-term EMAs (20 & 50) and below the both EMA, indicating weak momentum.

Volume: No significant volume surge yet to support a breakout.

Confirmation needed: A close above the trendline (~₹39–40) with volume would be an early sign of bullish reversal.

🎯 Watch for:

Breakout above ₹40 with increased volume = potential short-term rally.

Failure to break may result in retesting lower channel support near ₹33–34.

🧠 Adding this to my breakout watchlist. Will reassess if it closes outside the channel.