SPML Infra – Heavy Selling Pressure but Trendline Support Still Holding

1️⃣ Highest Selling Volume in a Decade The stock witnessed its largest weekly selling volume in nearly 10 years — a clear sign of distribution and long-term profit-taking. Such spikes typically indicate heightened supply pressure. 2️⃣ Bounce From Long-Term Trendline Support Despite the massive selloff, price reacted positively from the rising green trendline. This line has acted as a strong structural support over the last two years. Holding above it is critical for preventing deeper downside. 3️⃣ RSI Bearish Divergence While price made a higher low on the recent bounce, RSI printed a lower low → a bearish divergence, indicating weakening momentum. This usually precedes pullbacks or sideways consolidation unless momentum rebuilds quickly. 4️⃣ Structure Concerns Although trendline support is still intact, the following weaknesses stand out: Momentum loss visible in RSI Lower highs forming Heavy distribution candle No strong bullish follow-through yet Price must reclaim the 215–230 zone with strength to regain buyer confidence. 📌 Overall View SPML Infra is at a critical juncture: Support is holding, but Momentum indicators point to caution Unless RSI improves and price stabilizes above resistance, the stock may remain under pressure. 📢 Disclaimer: Educational technical analysis only — not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)