Refex Holds Key Fibonacci Support After Correction

Refex Industries Ltd. is trading near the 61.8% Fibonacci retracement level after a V-shaped recovery. ₹258 remains key support, while ₹297 and ₹311 are resistance levels. Refex Industries Limited (

) is witnessing a crucial technical setup after a sharp V-shaped recovery from its March 2026 low. The stock rallied from around ₹188.50 to approximately ₹371.40, delivering a strong rebound before entering a corrective phase. The recent decline has retraced nearly 61.8% of the prior upswing, with the stock currently trading near the ₹258–₹271 zone, a region that coincides with an important Fibonacci support level. Price action around this area will remain critical, as holding above the 61.8% retracement often indicates that the broader recovery structure remains intact. From a technical perspective, ₹258 emerges as an important near-term support level. A sustained move above this zone may help the stock stabilize after the recent correction. On the upside, ₹297 is the immediate resistance level and may act as the first hurdle for any recovery attempt. Beyond that, ₹311 remains a key resistance level, and a breakout above this zone could strengthen bullish momentum. The current setup places Refex Industries at an important technical juncture, with support and resistance levels likely to guide the next directional move in the stock. 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.