Kothari Products — Breakdown From Range, More Pain Ahead?

📉 Trend Reality • Price was moving in a rising channel (distribution phase) • Now breaking down → structure turning weak 📍 Key Levels • ₹77 – Major supply (channel top rejection zone) • ₹68–70 – Lost support (now resistance) • ₹60–61 – Current breakdown zone • ₹55–56 – Next critical support ⚡ What Just Happened • Price has broken below mid-range support • Currently sitting near lower boundary of structure 📊 Momentum Clues • RSI trending down in a channel → weak momentum • No bullish divergence → no reversal signal yet 🚨 Reality Check • This is not accumulation • It looks like a distribution → breakdown phase 🎯 What Changes the View? • Reclaim ₹70 → false breakdown possibility • Sustained below ₹60 → further downside likely 📢 Disclaimer: Educational only. Not investment advice. 👤 Rajneesh Sharma — SEBI Registered Research Analyst (INH000020332)