Alkyl Amines Chemicals Ltd – Daily Technical View
The stock is in a well-defined downtrend, trading below its key moving averages. Recent price action shows attempted stabilization near the lower Bollinger Band, indicating short-term base formation after prolonged selling pressure.
🔍 Technical Observations:
Price remains below the 20 EMA, keeping the broader bias bearish
Lower Bollinger Band support has held for now, triggering a mild pullback
RSI is recovering from lower levels, suggesting loss of downside momentum, not trend reversal yet
🔑 Key Levels:
Immediate Support: ₹1,540 – ₹1,500
Resistance Zone: ₹1,620 – ₹1,650
📈 Outlook:
As long as the stock stays below ₹1,650, upside is likely to be limited and rallies may face selling pressure.
A sustained move above ₹1,650 is required for trend improvement; otherwise, consolidation to weak bias may continue.
⚠️ Educational view only. Not a buy/sell recommendation.
— AALGO BREATHS