This is the single most instructive case in the Academy, because the same stock fired the same signal twice in 2026 with opposite results.
786, Investment Banks / Investment Companies.
Entry one: 26 February 2026
| Reading | Value |
|---|---|
| Price | Rs 23.92 |
| RSI | 83 |
| Volume vs average | 3.62× |
| Setup | breakout, high RSI, heavy volume |
Outcome: +20% in 5 sessions. Peak Rs 68.72, +187.3%. Close after 30 sessions +53.5%.
Entry two: 30 March 2026, five weeks later
| Reading | Value |
|---|---|
| Price | Rs 62.47 |
| RSI | 81 |
| Volume vs average | 1.11× |
| Setup | 52-week breakout, high RSI |
Outcome: never reached +20%. Peak Rs 68.72, +10.0%. Close after 30 sessions −54.3%.
The same stock. The same signal. 241 percentage points apart.
Look at what differed and what did not.
Did not differ: the breakout, the sector, the company, the high RSI. On a checklist, both entries tick the same boxes.
Differed:
- Volume. 3.62× versus 1.11×. The first breakout brought buyers; the second drifted through the level on ordinary turnover. This is precisely the 1.63× versus 1.13× split from The breakout, appearing in one stock.
- Where in the campaign. The first entry was at Rs 23.92 near the start. The second was at Rs 62.47, after the stock had already tripled. The peak of Rs 68.72 is identical in both rows, because both entries were reaching for the same ceiling. The first was 187% below it. The second was 10% below it.
The lesson, >A signal is not a property of a stock. It is a property of a stock at a price. The second
entry was buying the same evidence at 2.6× the cost, with a third of the volume confirming it.
This is also why ZEME blocks post-circuit same-day entries and applies a 3-5 day cooling period. The instinct that produced entry two, it is breaking out again, it worked last time, is the most expensive instinct on this exchange.
Do this now, practical activity
- Open SuperCharts and load 786. Set the range to January-June 2026.
- Mark both dates: 26 February and 30 March.
- Draw a horizontal line at Rs 68.72, the peak. Notice that it is the same ceiling for both.
- Now look at the volume pane under each date and compare the bar heights.
The question to sit with: on 30 March, with the stock up 160% and RSI at 81, what would have told you this was the second entry and not the first? The answer is in the volume pane and in how far the price had already travelled, both visible on the day.
Measured: 786 entered at Rs 23.92 on 2026-02-26 (RSI 83, volume 3.62× average) peaked at +187.3% and closed +53.5%. The same stock entered at Rs 62.47 on 2026-03-30 (RSI 81, volume 1.11×) peaked at +10.0% and closed −54.3%. Both reached the identical Rs 68.72 ceiling.