CEATLTD

Struggles Near Resistance Selling Pressure May Persist

appear technically bearish as the stock faced rejection near the key resistance zone around ₹3,750–₹3,800 after a sharp recovery from lower levels. The latest candle indicates renewed selling pressure, suggesting that the recent bounce may have been a temporary pullback within a broader weak trend. RSI is hovering near the neutral zone around 50, indicating the absence of strong bullish momentum, while the price continues to struggle below the resistance band. In my view, if the stock fails to reclaim and sustain above ₹3,750, it could again witness downside pressure toward the ₹3,450–₹3,350 levels in the near term.