Premier Energies Ltd – Daily Technical View
The stock remains in a strong downtrend, trading below key moving averages. Recent price action shows a small pullback from the lower Bollinger Band, indicating short-term relief, but the broader trend is still weak.
🔍 Technical Observations:
Price below 20-DMA, trend still bearish
Bollinger Bands indicate oversold bounce, not reversal yet
RSI around 40–45, improving but still below strength zone
Volume spike seen near recent lows, suggesting short-term demand
🔑 Key Levels:
Immediate Support: ₹700 – ₹680
Resistance: ₹760 – ₹790
Major Resistance: ₹830
📈 Outlook:
As long as the stock stays below ₹790, the trend remains sell-on-rise.
A sustained move above ₹800 with volume is needed for trend reversal.
Below ₹700, downside risk may continue.
⚠️ Educational view only. Not a buy/sell recommendation.
— AALGO BREATHS