Rajesh Exports Ltd – Range Breakout with Volume and RSI Near Overbought Levels

📉 Technical Overview After several months of sideways movement within a rectangular range, the stock has broken out decisively above the ₹190–₹200 zone. The breakout is accompanied by a surge in volume, indicating participation from market participants. Price is now above the 30-week Simple Moving Average, shifting the medium-term bias to positive. 📊 Indicators Snapshot RSI has moved above 68, approaching the overbought zone, signaling strong short-term momentum. Immediate resistance lies in the ₹232–₹244 zone, where supply had emerged during previous attempts. 📌 Chart Impression This breakout from a compression zone, supported by volume and RSI strength, suggests a structural shift. However, it is now entering an area with historical overhead supply. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)