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Rajneesh Sharma CFTe

26th Dec · SEBI-Registered Analyst

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)

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