Tube Investments reverses 4.3% rally near support

Tube Investments of India Limited shares rose as much as 4.29% but closed up only 0.05% at Rs 2,214. Support is at Rs 2,160 and resistance at Rs 2,475. Tube Investments of India Limited [

] shares rose as much as 4.29% intraday but gave up most of the gains and closed up only 0.05% at Rs 2,214 on 12 October. The stock is trading close to its Rs 2,160 support. The session touched a high of Rs 2,307.90 and a low of Rs 2,206.50. A strong early move that fades into the close often points to sellers stepping in at higher levels. In my view, the trend is bearish. The stock has been falling steadily from the Rs 3,335 level of June 2026, and the chart shows lower highs and lower lows since then. The stock is also far below its peak above Rs 4,800 from late 2024. A single fading rally does not change that. Rs 2,160 is the key support, and a fall below it would put lower levels in view. On the upside, Rs 2,475 is the resistance. A move above it would weaken the bearish view and bring a recovery attempt into focus. Bearish view while price trades below Rs 2,475. 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.