Techno Electric & Engineering – Daily Chart Analysis
Pattern: A clear Falling Wedge breakout is visible, which is a classic bullish reversal structure. Price has broken the upper trendline with a strong bullish candle, supported by healthy volume.
🔍 Technical View:
Price has closed above the 20 & 50 EMA, indicating short-term trend strength
Bollinger Bands are starting to expand, signaling rising volatility
RSI is moving upward from the mid-zone, showing improving momentum
Momentum indicators are gradually shifting to the bullish side
🔑 Key Levels:
Immediate Support: ₹1,080 – ₹1,050
Major Support: ₹1,020
Resistance Zone: ₹1,140 – ₹1,180
🎯 Upside Targets:
Target 1: ₹1,250
Target 2: ₹1,300
📌 Outlook:
Sustained trading above ₹1,140 can open the next upside move.
As long as the support zone holds, a buy-on-dips approach remains favorable.
⚠️ For educational purposes only. Not a buy/sell recommendation.
— AALGO BREATHS 🚀