Rail Vikas Nigam ends flat after order cancellation

Rail Vikas Nigam Limited shares closed 0.03% lower at Rs 196.95 after East Coast Railway cancelled an order. Support is at Rs 194 and resistance at Rs 214.30. Rail Vikas Nigam Limited [

] shares closed 0.03% lower at Rs 196.95 on 5 October. East Coast Railway has cancelled a video surveillance order that the company had won. The company had received a letter of award for the supply, installation, testing and commissioning of an IP-based video surveillance system for the rolling stock of East Coast Railway. The order was cancelled by mutual consent and without any financial repercussions. The stock opened at Rs 198.00, touched a high of Rs 199.90 and a low of Rs 195.34. The flat close suggests the market did not react sharply to the news. The major trend is strongly bearish. The price has fallen over 70% from its July 2024 peak, and the RSI reads 37.02, below the midpoint. That shows weak momentum. It does not show that the fall is over. Rs 194 is the key support. A fall below it would put lower levels in view. On the upside, Rs 214.30 is the key resistance. A move above it would bring a recovery attempt into focus. Disclaimer: I do not hold any position in this. This content is for informational purposes only and is not a recommendation to buy or sell. Investments in securities are subject to market risks. Please read all related documents carefully before investing.