REC remains weak below cloud and trendline

is still trading in a structure where sellers have the upper hand. Price is near ₹310.5, below the Ichimoku conversion line at roughly ₹315, below the base line near ₹328 and well below the forward cloud, which sits much higher. The business sits at the centre of India’s power-financing cycle, with exposure to transmission, distribution, generation and renewable capex. That gives REC a strong long-term sector backdrop, but the chart continues to separate the business story from the price trend. A falling trendline from the 2025 highs is still intact, and price remains below every major Ichimoku reference. The ₹305 to ₹310 region is now the immediate floor. If that gives way, the next downside reference lies around ₹295 to ₹300. For any recovery to gain credibility, the stock first needs to reclaim ₹315, then ₹328. A more meaningful change in trend would require a move above the cloud and the descending trendline near the ₹340 to ₹345 region. Until then, this remains a weak setup where support levels matter more than upside targets.