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Rajneesh Sharma CFTe

26th Aug · SEBI-Registered Analyst

📦 EPL Ltd – At Key Resistance Zone

EPL
🔹 Price Action EPL Ltd is trading around ₹232, holding above its critical support of ₹220. The stock has recovered from recent lows and is now approaching a major resistance at ₹253. Price is moving within an upward channel, suggesting a short-term bullish bias, but facing supply pressure near resistance. 🔹 Technical View Support: ₹220 (crucial level; breakdown here may weaken structure). Resistance: ₹253 (immediate hurdle; strong close above this could extend rally). Trendlines: Price respects the green ascending channel while also testing resistance from previous breakdown zones. RSI: Currently at 53, slightly positive but still below overbought territory, indicating space for further upside if momentum sustains. 🔹 Levels to Watch Support: ₹220 Resistance: ₹253 Major Trend: Sideways-to-bullish, but needs breakout above ₹253 for confirmation. 📊 Summary EPL Ltd is holding firm above ₹220 support and is attempting to retest the ₹253 resistance. A successful breakout above ₹253 could trigger further upside, while failure to cross may keep the stock consolidating in the current range. Traders should monitor these levels closely. 📢 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.

#TechnicalViews#SectorBreakouts#HiddenGems
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