Panacea Biotec Ltd – High Volume Surge Near Resistance with RSI Bearish Divergence

📊 Weekly Technical Summary The stock has recorded its highest weekly volume in over 2 years, pushing price near a major horizontal resistance zone around ₹428. Despite the price strength, RSI has not confirmed the move, showing a bearish divergence — lower highs on RSI versus higher price levels. Price is currently holding above the 30-week SMA, but faces selling pressure historically from the current zone. 📈 Indicators & Momentum Insight RSI remains below 55 and is struggling against a descending trendline. Price is near previous rejection zones — any failure to cross this band with momentum may lead to short-term exhaustion. Volume spike is significant, but needs to be followed by confirmation from RSI and price stability above resistance. 🧩 Consolidated Take Momentum is currently mixed — volume is supportive, but RSI suggests caution. The stock is at a technical inflection point near strong supply. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)