📊 SKF India Ltd. – Weekly Technical Structure

SKF India is trading within a broad sideways consolidation zone, highlighted in yellow, after an extended uptrend. The price action has recently turned cautious, showing signs of losing momentum while slipping below the 30-week SMA, which typically indicates weakening medium-term trend strength. 🔹 Chart Observations Pattern: Prolonged sideways structure between approximately ₹1,900–₹2,600, acting as major consolidation support and resistance. Trendlines: The primary uptrend line (black) from 2021 has been breached, with a descending trendline forming from the 2023 highs. RSI: A clear bearish divergence is visible — price made a higher high while RSI formed a lower high (marked with orange arrows), suggesting declining momentum despite price attempts to recover. Moving Average: Price is currently below the 30-week SMA, reflecting a neutral-to-weak bias in medium-term structure. Volume & OBV: Volumes remain muted and OBV is flattening, consistent with consolidation behavior. 🔹 Interpretation The chart reflects a range-bound phase with weakening momentum. The RSI divergence combined with price staying below the 30-week SMA implies loss of strength within the consolidation band. Sustained movement below the midpoint of the range could further extend the sideways-to-corrective structure. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)