Shree Pushkar Chemicals & Fertilisers Ltd (Weekly Chart): Reaction from Rising Trendline Support

Price Structure The stock maintains a broader rising structure marked by higher lows along a long-term ascending trendline. Recent price action shows a pullback from higher levels followed by a sharp upward reaction from an important horizontal support zone. Trendlines & Structure A long-term ascending support line continues to define the primary trend. Price recently reacted near this support and moved back toward a prior resistance band, reflecting structural balance between support below and supply above. Key Levels (Chart Observations) ₹383–₹385: Major resistance area aligned with earlier swing highs and upper trendline interaction. ₹364–₹365: Immediate reaction zone where price is currently positioned. ₹324–₹325: Important horizontal support that triggered the recent bounce. ₹250–₹270: Long-term rising trendline support visible beneath the broader structure. Momentum (RSI) Weekly RSI has turned upward from lower levels after approaching the mid-lower range, indicating improving momentum conditions. RSI remains around neutral territory rather than extended zones. Volume Behaviour Earlier expansion phases showed higher volume spikes, while the recent recovery displays moderate participation compared to previous rallies. Observation The chart reflects price stabilising above key support within an ongoing rising structure, with momentum showing signs of recovery as price approaches an important overhead resistance band. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)