Nandani Creation Ltd – Downtrend Intact, But Signs of Support Emerging

Price action remains confined within a clearly defined downward sloping channel, with consistent lower highs and lower lows. Recent bounce came from the lower channel boundary with slight uptick in volume, hinting at short-term demand. The stock remains below the 30-week SMA, a critical level for any trend reversal signal. 📈 Momentum Clues (RSI) RSI is respecting its own falling trendline, aligning with the bearish price channel. Currently, RSI is recovering from lower levels, but a break above its trendline is needed to confirm strength. No bullish divergence visible yet — momentum remains in sync with price. 🧩 Key Takeaways The structure continues to favor the bears until a decisive move above ₹37 and the 30-SMA is achieved. Both price and RSI breaking their respective downtrend lines will be the first bullish confirmation. 📢 Educational Purpose Only 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)