Roto Pumps – Bounce From Long-Term Support With Key Resistance Overhead

1. Support-Led Bounce Visible Price has shown a clear bounce from the rising long-term trendline support near the 60–65 zone. This area has acted as a demand zone multiple times in the past, indicating buyers are active at lower levels. 2. Major Resistance Zone: 77–80 The zone around ₹77–80 stands out as a strong overhead resistance, marked by multiple historical rejections. Any upside move is likely to face selling pressure here unless accompanied by strong volume expansion. 3. Trend Structure Still Mixed While the recent bounce is constructive, the broader structure remains sideways-to-corrective, with lower highs visible from the earlier peak. A decisive breakout above the falling trendline would be needed to shift the medium-term trend. 4. Momentum Indicator (MACD) Weak but Stabilising MACD remains in negative territory, suggesting overall momentum is still weak. However, the histogram contraction hints at a possible slowdown in bearish momentum, aligning with the price bounce from support. 5. What to Watch Next Sustained hold above the trendline support Volume pickup on upside moves Break and weekly close above ₹77–80 for trend reversal confirmation Summary: Roto Pumps is attempting a recovery from a strong support zone, but the ₹77–80 resistance band is the key hurdle. Until that zone is convincingly crossed, the move should be treated as a pullback bounce rather than a confirmed trend reversal. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)