Elecon Engineering Co. Ltd – Technical View

📊 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