SRF tests support beneath a heavy Ichimoku cloud

has slipped back to ₹2,421.40 and is trading beneath a dense Ichimoku resistance cluster. The conversion line is at ₹2,475.50, the base line at ₹2,492.50, and the cloud spans roughly ₹2,484–₹2,537. This positioning keeps the short-term structure bearish: price is below the conversion and base lines, while the forward cloud is still overhead. The visible falling trendline has been broken on the downside and now sits close to the current price area, making ₹2,475–₹2,495 the first recovery band to watch. A sustained close above it would improve the setup and could bring ₹2,535 into view. Until that happens, rallies may continue to face supply from the cloud and from holders trapped at higher levels. On the downside, ₹2,415–₹2,400 is the immediate support zone. Losing it would weaken the current base and open room toward ₹2,300, with the longer rising support line near ₹2,220 as a deeper reference. SRF has exposure to specialty chemicals, refrigerants and packaging films, sectors where sentiment can shift quickly with margins and global demand. The chart is not signalling a confirmed reversal yet; it is testing whether support can hold below a bearish cloud. Watch for price to reclaim ₹2,475 first, or for ₹2,400 to give way.