Andhra Cements Ltd – Volatile Base Formation After Prolonged Downtrend

Weekly View – Key Observations The stock has rebounded from the lower end of a falling channel and is now trading near the ₹74–₹78 zone, which aligns with short-term resistance and the 30-week SMA. Price action remains volatile, indicating active participation but also lack of clear directional control. Recent bounce is accompanied by improving structure, but follow-through is still limited. Momentum & Levels to Watch RSI has recovered from oversold territory and is hovering near the mid-zone (~50), suggesting stabilization rather than strength. Sustaining above ₹78–₹80 is important to avoid a pullback toward the ₹60–₹62 support band. Fibonacci retracement highlights overhead supply near ₹100–₹110, making upside gradual if momentum builds. Summary The stock is in a recovery phase but remains range-bound and volatile. Strength will be confirmed only if price holds above key supports and RSI continues to improve. Until then, cautious tracking is advised. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)