Shradha Infraprojects Ltd – Price Approaches Long-Term Trendline Support Amid Bullish RSI Divergence

Price Structure: The stock has experienced a multi-month correction from its peak near ₹90, retracing below the ₹44 horizontal support zone. Support Levels: Currently trading near a confluence of long-term rising trendline support and the previous breakout level. Resistance Levels: Overhead resistance is seen near ₹44 and ₹58.50, marking previous support-turned-resistance zones. Moving Average: The price remains below the 30-week moving average, indicating prevailing bearish sentiment in the intermediate term. Volume: Declining volume during the correction phase suggests a lack of aggressive selling pressure. RSI Divergence: A clear bullish RSI divergence is observed — while price made lower lows, RSI has started forming higher lows, indicating potential weakening of downward momentum. Momentum Outlook: The RSI remains below the 50 mark but shows a slight uptick, aligning with the support zone test and hinting at a possible pause or shift in trend. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)