Techno Electric – Reversal After Prolonged Downtrend (Daily Chart)
After a sustained downtrend with lower highs and lower lows, the stock has shown a sharp recovery from the ₹880–₹900 demand zone and is now attempting short-term trend reversal.
🔎 Technical Observations:
Strong bounce from key support near ₹890
Break above falling trendline (early structure shift)
Price reclaiming 20 EMA
Higher low formation visible
MACD bullish crossover with expanding histogram
RSI sustaining above 55–60 zone
🔑 Key Levels to Watch:
Immediate Resistance: ₹1,100–₹1,120
Major Resistance: ₹1,180
Immediate Support: ₹1,040
Strong Support: ₹990–₹1,000
🚀 Sustained breakout above ₹1,120 can trigger momentum towards:
₹1,180
₹1,250 (swing zone)
Structure indicates early reversal signs, but confirmation above resistance is crucial for continuation.
⚠️ Risk management below ₹1,000 on daily closing basis.
For educational purposes only. Not a buy/sell recommendation.
— AALGO BREATHS