PI Industries: Early Rebound Within a Longer Downtrend

closed at ₹2,333 on 21 September, up 0.7%. The stock has been in a sustained decline since late 2025, marked by lower highs and lower lows. The latest bounce from the ₹2,200 region is constructive, but it has not yet changed the broader structure. Price has moved above the 20-day moving average at ₹2,298, while the 50-day average remains overhead at ₹2,365. This makes ₹2,365 the first important test. A sustained close above that level would indicate that the rebound is gaining credibility and could open the way towards ₹2,450. ₹2,250–₹2,200 is the immediate support zone. A close below ₹2,200 would invalidate the recent recovery attempt and could extend the decline. For now, PI Industries is showing early improvement, but confirmation requires a move above the 50-day average.