🏭 RHI Magnesita India Ltd. – Recovery Attempt from Falling Channel Base

🔹 Price Action CMP: ₹491.45 (+11.06%) The stock shows a strong rebound from the lower boundary of a multi-month falling channel, with price reclaiming short-term moving averages. Momentum is improving after prolonged consolidation within the ₹445–₹540 zone. 🔹 Technical Observations Pattern: Falling channel breakdown negated; price retesting the mid-range resistance. Structure: Multiple higher lows forming since March 2025 indicate early accumulation. Volume: Noticeable increase in recent sessions, hinting at renewed institutional interest. RSI: Recovering from oversold territory, currently around 53, reflecting a shift toward positive momentum. MACD: Positive crossover forming, suggesting a trend reversal bias. OBV/Strength Indicator: Gradually turning upward after flattening — confirming steady accumulation. 🔹 Key Levels Immediate Resistance: ₹540. Major Resistance: ₹600. Immediate Support: ₹475. Major Support: ₹445. 🔹 Strength & Risk ✅ Bullish momentum rebound from channel support. ✅ RSI recovery and MACD crossover support structural improvement. ✅ Volume expansion reinforces accumulation signs. ❌ Resistance at ₹540–₹600 may cap near-term strength. ❌ Sustained move below ₹445 would weaken the recovery structure. 🔹 Outlook Gradual strength returning after extended correction. Sustaining above ₹475 could maintain a positive bias. Price action around ₹540 will be critical for trend confirmation. 📢 Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. 🧑‍💼 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)