Sintercom – Heavy Supply Zone Re-Test With RSI Facing Trendline Resistance

1. Price Back Into a Major Supply Zone The highlighted band around ₹115–₹140 has acted as a multi-year supply zone. Price has entered this region again, where historically, selling pressure increases. 2. Downtrend Line Still Intact A clear falling trendline from the 2024 peak continues to cap upside. Price is approaching this trendline from below, increasing the chance of supply-driven rejection. 3. RSI at Trendline Resistance RSI is showing a lower–high structure, touching its own downtrend line. This is often a warning signal that momentum may fade near resistance. 4. No Sign of Strong Demand Yet OBV remains flat, not showing accumulation. Volume spikes in the past have mostly been distribution events, not sustainable buying. 5. Structure Suggests Caution Price is at the intersection of: ✔ Multi-year supply ✔ Major falling trendline ✔ RSI resistance This convergence typically increases risk of pullback unless supply is absorbed convincingly. 📌 Summary View Sintercom is entering a high-supply zone with both price and RSI testing their respective downtrend resistances. Without strong accumulation, the chart currently leans towards supply dominance and potential rejection from this region. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)