20 Microns Ltd – Rebound Toward Supply Zone with Improving RSI and SMA Retest
20MICRONS
📉 Chart Highlights (Weekly)
Price has rebounded sharply and is currently hovering near the 30-week Simple Moving Average, after breaking out of a falling wedge.
RSI has climbed above 54, showing strength and momentum revival after weeks of weakness.
Immediate supply zone lies between ₹233–₹240, which previously triggered multiple rejections.
📈 Trend & Momentum Setup
The stock has regained strength after respecting long-term support around ₹191–₹192.
A cluster of trendlines suggests this zone is technically significant; a sustained close above the SMA would help shift bias.
Volume has improved on the latest upmove, adding validity to the current bullish attempt.
🧩 Conclusion
Technicals suggest a recovery attempt is underway. However, strength above the nearby supply zone will be key to maintaining upward momentum.
📢 Disclaimer: For educational and technical analysis purposes only; not investment advice.
👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)