RVNL

RVNL – Weekly Technical View Price Action: Current Price: ₹336.60 Weekly High: ₹357.30 Weekly Low: ₹335.30 Closing near week’s low, indicating selling pressure. Trend & Moving Average: Price is trading below the 50-day EMA (green), 100-day EMA (blue), and 200-day EMA (black), showing a strong bearish trend. 200-day EMA is far above the current price, confirming a long-term downtrend. Indicators: Parabolic SAR dots are above the price, confirming bearish momentum. MACD remains in the negative zone, with no bullish crossover signal yet. RSI (14) is at 38.79 – in the bearish territory but not yet oversold, meaning further downside is possible. Support & Resistance Levels: Immediate Support: ₹315 Major Support: ₹300 Immediate Resistance: ₹355–360 zone Major Resistance: ₹380 Technical Outlook – RVNL RVNL is facing continued selling pressure and is trading below all major EMAs on the weekly chart. The downtrend remains intact, and unless the stock closes above ₹350–360 on a weekly basis, short-term upside momentum will remain limited. The company is scheduled to announce its results on 12 August, which could lead to increased volatility. In the short term, the stock is showing no signs of entering a correction phase; however, it needs to sustain above ₹350 for any meaningful recovery. For long-term investors, any significant dip can be considered a buying opportunity, especially if results are strong and the stock manages to hold its rally. In such a case, RVNL could potentially retest its previous highs of ₹450–₹460 within the next 3–6 months.