💡 Fiem Industries – Hidden Bearish Divergence & Double Resistance

🔹 Price Action Closed at ₹2,042.90 (-6.10%) with heavy volume. Strong rejection seen near ₹2,200–₹2,210 zone (channel + horizontal resistance). Price dropped sharply, confirming supply pressure at highs. 🔹 Technical Observations Hidden Bearish RSI Divergence: Price retested previous highs. RSI made a lower high, showing weakening momentum. Double Resistance: Upper trendline of long-term rising channel. Horizontal resistance at ₹2,210. Support levels: ₹2,000 → ₹1,898. If broken, deeper correction toward ₹1,750 possible. 🔹 Indicators RSI ~51 (falling from overbought zone). Volume spike on rejection → signals distribution at resistance. Trend still bullish on higher timeframe, but near-term exhaustion visible. 🔹 Strength & Risk ✅ Long-term rising channel support intact. ✅ Strong rally since May shows underlying strength. ❌ Hidden bearish divergence signals weakness. ❌ Repeated rejection at double resistance zone. 🔹 Outlook Short Term: Expect corrective move toward ₹2,000 / ₹1,898. Medium Term: Only if price sustains above ₹2,210 with volume, next leg higher possible. Strategy: Avoid chasing highs, better to watch for pullback entry at support. 📢 Disclaimer: Educational purpose only, not financial advice. 🧑‍💼 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332).