🔹 Price Action Shree Cement is currently trading at ₹29,430, consolidating within a long-term upward channel. However, the recent price action shows signs of weakness near the upper channel resistance. 🔹 Technical View Support Levels: ₹28,800 / ₹27,600 Resistance Levels: ₹30,800 / ₹32,000 RSI Setup: Hidden Bearish Divergence observed, with price making higher lows while RSI shows weakness. Breakdown of the RSI trendline support adds to bearish caution. Trend Structure: Despite trading inside a rising channel, momentum is faltering at higher levels. 🔹 Strength & Weakness ✅ Price still holding within the long-term rising channel. ⚠️ RSI divergence and trendline breakdown suggest momentum exhaustion. ⚠️ Sustained move below ₹28,800 could trigger deeper correction. 🔹 Outlook If ₹28,800 holds, the stock may continue consolidating within the channel. A decisive close below ₹28,800 may open room for correction towards ₹27,600–₹26,800. For bulls, reclaiming ₹30,800 is crucial to negate weakness and resume upside. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.

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