Atul Auto Ltd – Weekly Base Formation at Demand, RSI Improving

The stock is trading near a well-defined weekly demand zone around ₹410–₹400, where multiple historical lows are clustered. Price has slowed its decline after a prolonged downtrend and is attempting to stabilise above support, though the broader structure still reflects lower highs. A descending trendline from the top remains intact, keeping the medium-term bias cautious until a clear breakout is seen. 🔄 Momentum Watch: RSI is hovering near 44–45, showing early signs of strength through higher lows, even as price remains range-bound. Momentum is improving gradually, but RSI is still below the neutral 50 mark, indicating that confirmation is pending. 📌 What to Monitor: Support: ₹410–₹405 (critical), followed by ₹380–₹370 Resistance: ₹445–₹450 initially, major trend resistance near ₹460–₹470 Trigger: A weekly close above ₹460 with RSI moving above 50 could signal a trend shift Risk: Breakdown below ₹370 may open downside towards ₹340–₹320 ⚠️ Risk Note: Price may continue consolidating near support before a directional move emerges. Trend reversal requires confirmation; premature positioning carries risk. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)