🔹 Price Action Craftsman Automation is trading around ₹7,158, after a strong rally from the ₹4,000 zone earlier this year. The stock is now testing the upper boundary of its long-term ascending channel, which has historically acted as a reversal zone. 🔹 Technical View Support: ₹6,490 Resistance: Current upper channel resistance (around ₹7,200–7,300) Trendlines: Price is near the top of its rising channel, increasing the likelihood of a pullback. RSI: Shows bearish divergence – while price made new highs, RSI failed to confirm, suggesting weakening momentum. 🔹 Levels to Watch Immediate Support: ₹6,490 Major Support: ₹6,000 zone Downside Risk: A rejection at current levels could lead to profit booking and a move back towards support levels. 📊 Summary Craftsman Automation has delivered a stellar rally, but technicals suggest exhaustion is setting in. The RSI divergence combined with price being at the channel top indicates a higher probability of a short-term correction. Long-term trend remains intact, but fresh entries here may carry elevated risk. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.

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