Premier Energies Ltd – Technical View
Timeframe: Daily
The stock is in a clear downtrend, trading below the 20-DMA and near the lower Bollinger Band, indicating weak momentum. After a sharp sell-off, price is attempting a minor pullback, but overall structure remains bearish to sideways unless key resistances are reclaimed.
🔑 Key Levels
Immediate Resistance: ₹920 – ₹940
Major Resistance: ₹1,000
Support Zone: ₹880 – ₹860
Lower Support: ₹840
📉 Outlook
As long as price stays below ₹940, upside is likely to be capped.
Breakdown below ₹880 can extend downside towards ₹860 / ₹840.
Trend reversal will be confirmed only on a sustained close above ₹1,000 with volume.
⚠️ Educational view only. Not a buy/sell recommendation.
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