Coromandel International Ltd – Technical View
Timeframe: Daily
After a strong recovery from the falling wedge breakout, the stock faced rejection near the upper Bollinger Band and is now forming a Right Shoulder structure, indicating loss of upside momentum.
Price has slipped below short-term averages, suggesting consolidation to mild corrective phase in the near term.
🔑 Key Levels
Immediate Resistance: ₹2,320 – ₹2,350
Support Zone: ₹2,260 – ₹2,250
Major Support: ₹2,100 – ₹2,050
📉 Outlook
As long as the stock stays below ₹2,350, upside looks capped.
A breakdown below ₹2,250 can trigger further downside towards ₹2,100.
Fresh bullish strength only on sustained move above ₹2,350 with volume.
⚠️ Educational view only. Not a buy/sell recommendation.
— AALGO BREATHS
Disclaimer: https://aalgobreaths.com/disclaimer/