RVNL Technicals Turn Bullish Weeks After ₹115.79 Cr Contract Award

is a railway infrastructure PSU under the capital goods/infrastructure sector, focused on rail construction, electrification, and metro projects. Rail Vikas Nigam Ltd. (RVNL) secured an order last month, emerging as the Lowest Bidder (L1) for a Central Railway contract worth ₹115.79 crore (₹115,79,37,241.11 including taxes). The scope includes Overhead Equipment (OHE) modification to upgrade the existing 1x25 KV electric traction system to a 2x25 KV system, aimed at supporting a 3,000 MT freight load in the Itarsi–Amla section of the Nagpur division. The project timeline is 24 months. Though relatively moderate in value compared to RVNL’s recent order inflows, this contract reinforces its niche in rail electrification and supports Indian Railways’ broader goal of boosting freight capacity. Technically, it's showing a potential trend reversal both on the daily and weekly timeframes after a prolonged corrective phase within a descending channel. On the daily chart, the price has decisively broken out of the falling channel, signaling bullish momentum supported by the recent close above the 70 EMA (₹372.80) and nearing the 100 EMA (₹393.49). RSI on the daily chart is currently at 60.50, indicating strength without being overbought. On the weekly chart, the price is also challenging the upper band of the descending channel and has shown a strong bullish candle, suggesting accumulation at lower levels. The stock is trading above the 100 EMA on the weekly (₹317.44) and is close to reclaiming the 70 EMA (₹390.41), which if sustained, could open the door to higher levels. Key resistance lies at ₹393–₹399 zone, a decisive close above which could lead to a sharp move toward ₹425 and eventually ₹480. On the downside, ₹351 and ₹332 remain strong support zones. The RSI on the weekly chart has also rebounded from the midline (47.15), hinting at strength building up. I have attached the daily chart of for your reference. Follow me for more such updates