Techno Electric – Reversal After Prolonged Downtrend (Daily Chart)

📊 Techno Electric – Reversal After Prolonged Downtrend (Daily Chart) After a sustained downtrend with lower highs and lower lows, the stock has shown a sharp recovery from the ₹880–₹900 demand zone and is now attempting short-term trend reversal. 🔎 Technical Observations: Strong bounce from key support near ₹890 Break above falling trendline (early structure shift) Price reclaiming 20 EMA Higher low formation visible MACD bullish crossover with expanding histogram RSI sustaining above 55–60 zone 🔑 Key Levels to Watch: Immediate Resistance: ₹1,100–₹1,120 Major Resistance: ₹1,180 Immediate Support: ₹1,040 Strong Support: ₹990–₹1,000 🚀 Sustained breakout above ₹1,120 can trigger momentum towards: ₹1,180 ₹1,250 (swing zone) Structure indicates early reversal signs, but confirmation above resistance is crucial for continuation. ⚠️ Risk management below ₹1,000 on daily closing basis. For educational purposes only. Not a buy/sell recommendation. — AALGO BREATHS