Elecon Engineering Co. Ltd – Technical View
Timeframe: Daily
The stock has been in a corrective downtrend and recently showed a strong bounce from the lower Bollinger Band, supported by rising volume. Price has managed to reclaim the 20-DMA, which indicates short-term relief, but the broader trend is still range-bound to cautious unless further follow-through buying appears.
🔑 Key Levels
Immediate Resistance: ₹505 – ₹515
Major Resistance: ₹535 – ₹550
Support Zone: ₹480 – ₹470
Lower Support: ₹455 – ₹440
📉 Outlook
A sustained close above ₹515 can open upside towards ₹535 / ₹550.
Failure to hold above ₹480 may drag the stock back to ₹455–₹440.
Trend improvement will be confirmed only if price holds above 20-DMA with volume expansion.
⚠️ Educational view only. Not a buy/sell recommendation.
— AALGO BREATHS