Kanoria Chemicals – Weekly Support Test With Hidden RSI Strength

1. Price at Key Support Zone The stock is currently hovering near a well-defined horizontal support zone that has held multiple times in the past. This area coincides with prior demand, making it an important level to observe for stability. 2. Long-Term Trendline Context Price has corrected along a falling trendline from previous highs and is now attempting to stabilize near its lower boundary. This suggests the corrective phase may be maturing, though confirmation is still needed. 3. Hidden Bullish RSI Divergence RSI shows a hidden bullish divergence, indicating underlying strength despite muted price movement. This often appears during corrective phases within a broader structure. 4. RSI Near Exhaustion Zone RSI is positioned near the lower band, reflecting selling pressure that may be nearing exhaustion rather than fresh momentum to the downside. 5. Structure at an Inflection Point Support zone being retested RSI showing subtle bullish signals Downtrend momentum slowing Overall, the chart reflects a make-or-break zone, where support behavior and momentum confirmation will be crucial in the coming weeks. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)